N. Harris Computer Corp. has completed its acquisition of British Columbia's Municipal Solutions Group.
The Ottawa-based company, which is a wholly owned subsidiary of Toronto-based Constellation Software Inc., said it has bought substantially all of the assets of the software company. The deal includes the shares of its operating subsidiary Municipal Software Corp., although the purchase excludes MSG's web-based Local Government Manager product, which allows municipalities with limited resources to automate processes such as issuing building permits, enforcing codes and city planning.
The part of MSG which still owns Local Government Manager has now been renamed CloudBench Applications Inc. The company's shares will continue to trade on the TSX Venture Exchange under the new trading symbol 'CBH.'
Harris had earlier said the acquisition of the software company would complement its land management solution practice, with the addition of more than 125 customers. MSG has 2,500 installed concurrent licences and more than 8,000 users for its product.
The acquisition was Harris's fifth purchase of 2008.
Financial terms of the transaction were not disclosed.
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