Canadian technology firm Constellation Software (CSU) has acquired Winklevoss Technologies, a privately held company that makes software used to value and administer defined benefit pension plans.
Also known as “WinTech,” the Connecticut-based software company was founded in 1987 by Howard Winklevoss, an actuary who is widely regarded as a leader in the practice of benefits management and pension plans.
Howard Winklevoss is also the father of twins Tyler and Cameron Winklevoss who were involved in the founding of social media platform Facebook and have gone on to run the Gemini cryptocurrency exchange.
WinTech’s current customer base includes some of the world’s top actuarial consultants, investment firms, accounting firms, pension plan administrators, as well as insurance companies.
Constellation Software acquires vertical market software businesses, typically through small deals valued at less than $10 million. However, the company has said that it plans to begin purchasing larger companies going forward.
Terms of the acquisition of WinTech were not disclosed. Constellation Software executed the purchase through Perseus Group, one of its operating groups.
Constellation Software’s stock has gained 33% over the last 12 months to trade at $2,669.02 per share.
