NexJ Systems to be acquired by Constellation Software unit for C$0.55/share

Aug. 29, 2022 1:26 PM ETNexJ Systems Inc. (NEXJF), NXJ:CACNSWF, CSU:CA, NXJ:CABy: Jessica Kuruthukulangara, SA News Editor
  • NexJ Systems (OTCPK:NEXJF) said Monday it will be acquired by N. Harris Computer, a subsidiary of Constellation Software (OTCPK:CNSWF), for C$0.55/share in cash.
  • NEXJF said the deal amount represents ~45% premium to its shares' last close on the Toronto Stock Exchange.
  • NEXJF will continue to focus on CRM and Integrated Advisor Desktop solutions for wealth management and private banking (B2C), and corporate and commercial banking (B2B).
  • "The acquisition by Harris will provide the financial strength and operational support required as NEXJF continues its transition to a subscription-based license model," said Scott Beattie, chair of NEXJF's board.
    • After the deal closes, which is expected in Q4, NEXJF's stock will be delisted from the TSX.

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