Constellation Software is a vertical software acquisition engine

Constellation Software is a holding company that acquires, manages and develops vertical market software (VMS). Through their six operating groups, the company has acquired over 1,000 businesses that are operated in a decentralized manner. Each company operates independently of the other portfolio companies, allowing their respective unit heads to manage the business in a manner they consider most appropriate. Excess cash generated by each business unit is repatriated to portfolio managers who redeploy the capital to acquire new businesses.