Constellation Software (CNSWF) and Topicus.com (TOITF) announced that Topicus’ subsidiary Total Specific Solutions (TSS) has entered into a binding agreement with CIPAL NV and Mr. Schaubroeck in respect of the sale and transfer of all issued and outstanding shares in the capital of Cipal Schaubroeck NV to TSS. Cipal Schaubroeck NV is a Belgium-based vertical market software provider active in the local government vertical with annual gross revenues of approximately EUR 110M in 2024. CP employs over 590 employees. The transaction is currently expected to close in Q1 2025, subject to the satisfaction of certain standard closing conditions including clearance from the Belgian Interfederal Screening Commission.
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