“Perseus’ buy and hold strategy and the deep industry experience of the DMS market will allow us to continue to put our customers’ needs first and provide an exceptional opportunity for our staff to flourish in a much larger organisation.”
MELBOURNE, Australia March 4, 2024--(BUSINESS WIRE)-- Perseus Operating Group (“Perseus”) of Constellation Software Inc. (“Constellation”) announced today that it has completed the purchase of Auto-IT Pty Ltd (“Auto-IT”), a market leading dealer management system provider for franchise automotive, agriculture, trucking and construction equipment markets.
The acquisition further expands the Perseus footprint in dealership software markets, having already established a strong presence in North America and the United Kingdom. Auto-IT marks Perseus’ tenth acquisition in the dealership software market, under the Constellation Dealer Group.
“We are delighted to have the Auto-IT employees and customers join the Perseus family and the Constellation Dealer Group,” said Sean Raynor, the President of Constellation Dealer Group. “Auto-IT’s addition to our portfolio will expand our global insight in the industries we already serve and help us innovate in ways we haven’t thought of. We look forward to meeting with Auto-IT customers to discover how we can serve their needs more effectively.”
Auto-IT will retain its headquarters in Melbourne, Australia and its offices in Sydney, Wellington, India and Southeast Asia as well as its partners in South Africa and Mexico. Wayne Rushworth, CEO and Aaran Newman, Director of Sales and Marketing will continue to lead in their current roles.
“As shareholders and operators we searched for a strategic partner with a similar value set and culture, that will allow Auto-IT to continue to focus on its customers and realize its full potential in the markets it serves,” said Wayne Rushworth, “Perseus’ buy and hold strategy and the deep industry experience of the DMS market will allow us to continue to put our customers’ needs first and provide an exceptional opportunity for our staff to flourish in a much larger organisation.”
About Auto-IT
As one of the largest DMS companies in Australasia, Auto-IT has delivered powerful systems to the market for over 40 years and works closely with all major OEMs and allied industry partners.
About Perseus
Perseus is an operating group of Constellation Software Inc. Perseus acquires and invests in software businesses that are committed to providing long-term solutions and life-long partnerships to customers. For more information about Perseus, visit: https://www.csiperseus.com/
About Constellation Software Inc.
Constellation Software’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation Software acquires, manages and builds vertical market software businesses. Further information about Constellation may be obtained from its website at www.csisoftware.com.
For more information:
Sophie Strobel
Perseus Group
Director, M&A Marketing
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