March 2, 2004
We are pleased to announce that Constellation Software Inc. ('CSI') has acquired all of the assets of Newstar Homebuilders Inc. ('Newstar')
CSI acquires and builds high market share, mission-critical, vertical market software companies in growing markets via a combination of internal growth and acquisitions.
Newstar is a leading provider of integrated software and related services for production homebuilders. Eric Shishko, the current Newstar President, will remain as a director of the company, and will join CSI to assist us in pursuing other acquisitions. Dexter Salna, with a decade of experience building vertical market software companies, as well as homebuilder experience, will assume the Newstar Presidency. Dexter was previously the Chief Financial Officer and Vice President of Business Development at Trapeze Software Inc., CSI’s largest operating subsidiary.
Wilf Hinderle has been appointed to the position of Senior Vice President of Business Development, with emphasis on new business development, sales and marketing. Wilf comes to Newstar from Gary Jonas Computing Inc. the Constellation subsidiary with the most successful track record of internal growth.
We are delighted to have been able to invest in the Newstar business. In an industry that has seen an unusual amount of turmoil among software suppliers, Newstar has a history of providing superior software products, services and stability to the homebuilder market. I am confident that the company will provide a foundation from which we will be able to build another thriving CSI subsidiary.