Canadian Manufacturing

OMERS reduces Constellation position in $89-million deal

The OMERS pension fund manager is selling 23 per cent of its stake in Constellation Software Inc. for $89.5-million.



TORONTO—The OMERS pension fund manager is selling 23 per cent of its stake in Constellation Software Inc. for $89.5-million.

The deal leaves OMERS with about 20.4 per cent of Constellation’s common shares.

On Thursday, Constellation bought California-based Wynne Systems Inc., which provides software to manage rentals. Wynne will become part of Constellation’s Volaris Group.

OMERS is one of Canada’s largest pension funds, serving current and retired employees of Ontario municipalities.

Constellation develops, installs and customizes software for select industries.

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