Transaction

Clearwater advises the shareholders of AzurSoft on its sale to Constellation Software Inc.

Transaction

AzurSoft sold to Constellation Software Inc., Harris

Sell-side

Undisclosed

Role

Adviser to the shareholders of AzurSoft on its sale to Constellation Software Inc.

Sector

Tech & Tech Services

Region

France

Clearwater has advised the shareholders of AzurSoft, a software development company focused on risk management, security, integrated command & control, and health & safety, on the sale of 100% of the company’s share to Constellation Software Inc., a leading provider of software and services to a selected group of public and private sector markets, via its subsidiary Harris France.

Founded in 1986, AzurSoft has been driven by the ambition to become a leader in the field of security, safety, and risk management software solutions. Over the last seven years, its development has accelerated significantly through external growth, the realisation of ambitious projects and the recruitment of new talent, with the support of iXO Private Equity, which acquired a majority stake in the company in 2015.

With more than 1,500 active customers and a 95% customer satisfaction rate, AzurSoft has confirmed its role as a trusted provider and leader in the unified security market. The company employs 40 people across sites in Nice, Paris, Pau, and Millau, with revenue of €6m and 25% of its turnover invested into R&D.

AzurSoft currently offers three products: Horus, a global supervision solution, Actives, a new generation hypervision software, and Alfatea, a complete software suite dedicated to the prevention of workplace risks. To meet today's security challenges, the company also developed a global offering that brings together its expertise on a single platform, "One AzurSoft". As a distinctive solution, this integrates all equipment and systems including video protection, access control, fire, badges, locks, VMS, CTM / BMS, biometrics and more, while combining private and public security.

Constellation Software Inc. is a public company listed on the Toronto Stock Exchange, with a market capitalisation over €30bn. Today, the company is one of the world's most active acquirers in the software industry. Founded in 1976, its sister company Harris Computer Corporation focuses on the development of turnkey and feature-rich solutions for the public sector, education, public safety, healthcare, service, and vertical solutions organisations in North America, Europe, Asia, and Australia. Its French subsidiary Harris France, formed with a merger between Everwin and Sigma, aims to reach €100m in revenues by 2025, through an active consolidation process in the local market.

AzurSoft will retain full autonomy in its organisation, brand and locations, while benefiting from the expertise and resources of Harris France, to accelerate its growth. Marc Vaillant, CEO of AzurSoft, will remain the head of the company, to support in this new stage of development.

image 106

We are pleased to have supported Marc and his teams over the last few years and contribute to the transformation of AzurSoft. We are convinced that the project carried out by Harris France will allow AzurSoft to continue its growth, while maintaining a high level of service quality.

Nicolas Charleux, Managing Partner, iXO Private Equity
image 106

We are delighted that AzurSoft will be joining Harris France, with key security software solutions for its customers. Our acquisition philosophy is to support our companies for life, by giving them autonomy and helping them to grow. As with all Harris companies, we will provide AzurSoft with strategic expertise and best practice sharing, to sustain them over time.

Tony Pénochet, CEO, Harris France and Everwin

We are proud to have assisted AzurSoft and contribute to this new adventure within an ambitious group, while keeping its autonomy.

Alexandre Forget, Managing Partner, Clearwater

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