May 20 (Reuters) - Constellation Software Inc CSU.TO :
* CONSTELLATION SOFTWARE INC. REACHES AGREEMENT TO COMBINE ITS TSS OPERATING GROUP WITH TOPICUS.COM TO FORM A NEW OPERATING GROUP
* CONSTELLATION SOFTWARE INC - ONCE TRANSACTION IS COMPLETED, TSS AND TOPICUS WILL OPERATE TOGETHER UNDER OPERATING GROUP NAME "TOPICUS.COM"
* CONSTELLATION SOFTWARE-PURCHASE OF TOPICUS WILL BE FINANCED WITH TSS' CASH ON HAND, EXISTING REVOLVING LINE OF CREDIT AND REQUIRES NO FUNDING FROM CO
* CONSTELLATION SOFTWARE INC - UNDER GUIDANCE OF CO, TOPICUS.COM INTENDS TO EXPLORE OPPORTUNITIES FOR A FUTURE PUBLIC LISTING OF ITS SHARES
* CONSTELLATION SOFTWARE INC - PURSUANT TO SUCH LISTING, IT IS ANTICIPATED THAT CONSTELLATION WOULD REMAIN A SIGNIFICANT SHAREHOLDER OF TOPICUS.COM
* CONSTELLATION SOFTWARE-CONSIDERATION WILL BE IN FORM OF CASH PAYMENT PLUS ISSUANCE TO SELLER OF ABOUT 9% OF SHARES OF NEW OPERATING GROUP TOPICUS.COM