Constellation Software Inc. (CSI) announced another period of healthy results in Q3, demonstrating the strength of our companies and our commitment to growing our share of software companies in vertical markets globally.  

Total revenue for the quarter ending September 30th, 2021 was $1.299B—a 30% increase in revenue year-over-year, compared to $1.003B in Q3 2020. The first nine months of 2021 saw total revenues of $3.724B—an increase of 29%, or $846M, compared to the same period in 2020.  

With organic growth of 7%, overall growth in Q3 was driven primarily by acquisitions completed for a total cash consideration of $173M.  

Cash flows from operations (“CFO”) increased $58M year-over-year to $292M, representing a 25% increase in cash flow to consider additional acquisitions for the rest of 2021 and into 2022.  

To read Constellation’s full third quarter earnings report, click here 

Expanded Markets & Opportunity 

The Constellation Real Estate Group made its official international debut in Q3, welcoming London-based Eran Baram to lead our expansion into European markets.  

CREG’s entrance to European markets, coupled with an initiative to pursue multi-hundred-million-dollar acquisitions, leaves expectations high for 2022. While we will continue to invest in VMS companies as we always have, we look forward to expanding our M&A presence in exciting ways.  

In the news:

I invite you to reach out directly to discuss anything I’ve mentioned above or explore opportunities together.  

Always happy to connect.  

Have a great holiday season, everyone.   



Scott Smith
President and Managing Partner
Constellation Real Estate Group