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Houston, Texas (October 1, 2018) Coreworx Inc. ("Coreworx") is pleased to announce its acquisition by Vela Software Group, an operating group of Canadian public company Constellation Software Inc. (TSE:CSU).

The backing of Vela enables a new phase of growth for Coreworx through access to a broad pool of management expertise and software development skills.

Vela's permanent-ownership model, and industry-specific expertise will ensure that Coreworx remains a trusted, industry-leading provider of information management solutions to capital projects within the oil and gas, infrastructure, power, mining, and engineered solutions industries.

"We are excited to join the Vela group and about the opportunities this will bring to the Coreworx brand, products, and customers," said Coreworx CEO, John Gillberry. "Vela and Constellation bring operating expertise from their hundreds of software businesses, plus financial strength and global infrastructure. Paired with the talents and industry experience of the Coreworx organization, this acquisition sets Coreworx on a course for great success in the future. Coreworx clients can be confident that this move will strengthen the Coreworx position in the marketplace, whilst being assured that services, particularly Coreworx trusted support, will remain unchanged."

"We are very pleased to bring Coreworx into the Vela family. Coreworx offers a well-established solution suite that is used by many of the leading names in capital project execution," said Gabor Czegledy, Senior Vice President, Portfolio Manager at Vela Software. "We look forward to combining Coreworx’s industry knowledge and expertise with the presence and strength of the Vela group in order to provide customers with industry-leading capital project solutions for the long-term."

About Vela

Vela Software acquires, manages, and builds mission-critical vertical market software businesses that are located throughout the world. It works with its companies to improve operations, grow through organic initiatives, and acquire businesses that can strengthen market positioning. Vela is an operating group of Constellation Software Inc. (TSX: CSU), a public company listed on the Toronto Stock Exchange with 6 operating groups that provide software for over 80 vertical markets. Constellation Software Inc. has consolidated revenues exceeding US$2.7 billion with more than 14,000 employees located in over 250 offices worldwide.

 

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