Vela Software Group, trading through its subsidiary Vela Asia Pacific, has today announced the acquisition of Accredo Business Software Limited. Accredo is a comprehensive accounting and business management solution used by SMEs across Australia and New Zealand.

Natisha Brindle, General Manager, Accredo, stated, “It was critical to find the right acquirer to ensure the continued growth of Accredo built on a foundation of over 30 years’ industry knowledge. Through its wealth of experience and commitment to excellence and continued learning, we are excited to have Vela guiding us on our journey as we take our software and people forward. We believe that Vela’s valuable best practices, together with the financial backing of a large software company, will greatly assist Accredo in delivering even more value to our customers across Australia and New Zealand. The existing Accredo team will remain and is excited by the opportunities that lie ahead.”

Ian Whiting, CEO, Vela Asia Pacific, said, “We’re excited to bring Accredo and its talented team into the Vela group. With a strong foundation and reputation forged over 30 plus years, Accredo has a stellar reputation for great software and supporting businesses across Australia and New Zealand.”

About Vela Asia Pacific

Vela Asia Pacific, as part of Vela Software Group, acquires, manages, and builds mission-critical vertical market software businesses. We are a portfolio of Wholesale, Distribution, Fashion, General Retail, Light Manufacturing, and Government software businesses that have a presence in Australia, New Zealand and Asia-Pacific. We provide vertical market software expertise, operational support and capital to help our businesses grow.

Vela is an operating group of Constellation Software Inc. (TSX: CSU), a public company listed on the Toronto Stock Exchange.

Further information concerning Vela Asia Pacific may be obtained through their website at www.velasoftwaregroup.com.au

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