Optitex Acquired by FOG Software Group

Tel Aviv, Israel – April 17, 2020 – Optitex©, a global provider of integrated 2D and 3D CAD/CAM software solutions for the fashion and apparel, automotive, upholstery, and industrial fabrics industries, today announced it has been acquired by FOG Software Group (“FOG”), a division of Constellation Software, Inc. [TSX: CSU].

Optitex will operate as an independent company within FOG, using its historic "Optitex" name and brand, allowing the company the strategic and operational freedom to focus on the unique and specific needs of its users. Optitex will continue to innovate its products, expand its suite of software solutions and services, and directly support its customers worldwide.

With Constellation Software's long-term strategy to acquire, build, and retain companies, Optitex will benefit from Constellation's additional strategic support. Having completed over 500 acquisitions, Constellation Software brings a robust set of business best practices and investment strength to its portfolio companies to ensure their steady and continuous growth.

“This acquisition provides significant added value to Optitex, its customers and partners. While retaining independence of business operations, we reinforce our strong commitment to innovative product development,” said Amir Lehr, CEO of Optitex. “This investment also shows a tremendous vote of confidence in both our team and our technology, particularly in these challenging times. Optitex expects to achieve lasting business stability supported by Constellation's long-term vision, and to further benefit from Constellation’s financial support, networking opportunities, and well-honed management best practices.”

“We are excited to enter the 3D digital design space and impressed with the product and market vision of the Optitex team. With our historic investment in similar companies in this market, this acquisition reinforces our commitment to the segment and we are very pleased to add Optitex to the FOG family,” said Sandy Scott, FOG Software Group Portfolio Manager for Retail and Textile Technologies. “We look forward to supporting continued product innovation to create value for customers around the world.”

About FOG Software Group
Rosemont, IL-based FOG Software Group is a division of Toronto-based Vela Software and Constellation Software, Inc. [TSX:CSU]. The companies acquire, manage, and build software companies in a variety of vertical markets. By helping their acquired companies improve operations, grow through organic initiatives, and seek additional acquisitions that can strengthen their market position, their portfolio companies become clear leaders in their industries.

About Optitex
Optitex is a global software provider of integrated 2D-3D computer-aided design (CAD) solutions for fashion and apparel, automotive, upholstery, and industrial fabrics. Optitex digitally streamlines design, development, and production throughout the supply chain, enabling efficient workflows and quick response to market demands. Informed by over three decades of experience and a growing base of 30,000 users, the company’s innovative solutions are highly accurate, sustainable, and cost-effective, offering brands, retailers, and manufacturers a one-vendor solution for delivering high-quality products on demand and on budget. To learn more about Optitex, visit www.optitex.com.

April 17, 2020