VELA SOFTWARE ACQUIRES MONITOR

Aberdeen, UK (July 21, 2022) Vela Software Group (“Vela”) is proud to announce the acquisition of Monitor Management Control Systems Ltd., a business that provides project cost & performance management software, training, and consulting to the oil and gas, infrastructure, power, mining, construction, and engineered solutions industries.

Vela, an operating group of Canadian public company, Constellation Software Inc. (TSE:CSU), will add Monitor project cost control software to the Ascertra business that offers products from previous acquisitions of Coreworx interface management software and Proarc Engineering Document Management software.

The backing of Vela enables a new phase of growth for Monitor through access to a broad pool of management expertise and extended global reach provided by combining resources from Ascertra offices in Calgary, Houston, and Oslo with Monitor operations in Aberdeen, UK and Perth, Australia.

Vela’s permanent-ownership model and industry-specific expertise will ensure that Monitor remains a trusted, industry-leading provider of project cost & performance management solutions to all customers and supported industries.

“We are excited to join the Vela group and the opportunities this will bring to the Monitor brand, products, and customers,” said Monitor COO, Mike Davidson. “The Ascertra business product lines have many common customers and possible functional synergies, added with a global infrastructure that will enhance the value we can deliver. Monitor clients can be confident that this move to Ascertra will strengthen our market position and ability to continue to deliver great value in the area of project cost control, whilst being assured that services, particularly trusted support, will remain unchanged.”

“We are delighted to add Monitor into the Vela family within our Ascertra business. Monitor offers a well-established and proven solution suite that is used by many of the leading names in capital project execution,” said Matt McKinley, CEO at Ascertra. “We look forward to combining Monitor’s specialist knowledge with our expertise in document control and interface management in order to provide customers with greater value from our industry-leading capital project solutions.”

About Vela. Vela is a global provider of software solutions to a number of vertical industries. As an operating group of Constellation Software Inc., Vela acquires, manages, and builds specific software businesses which provide specialized, mission-critical software solutions. Vela companies invest in becoming leaders in their industries to better serve their customers.

About Ascertra. Ascertra is a software and services company that provides integrated information management software solutions, including Proarc Engineering Document Management software (EDMS) and Coreworx Interface Connect interface management software, that help their customers better design, construct, and operate complex assets. These solutions service a portfolio of projects valued at over $1 trillion across 40 countries, on more than 2,000 projects with 250,000+ users. Ascertra software enables EPCs, owner-operators, and contractors to automate best practices for compliance and quality, mitigate related business risk, and improve performance to budget throughout the entire project & asset life cycle.

About Monitor. Monitor Management Control Systems Ltd. provides project cost & performance management software, training, and consulting to the oil and gas, infrastructure, power, mining, construction, and engineered solutions industries. Monitor was founded in 1987 and has offices in Aberdeen, Calgary, and Perth. Monitor has provided products, consultancy, and training recently to projects in Kazakhstan, Middle East, and Africa, as well as key markets of Europe, North America, and Australia.