Contour Software (PVT) LTD (“Contour”), an indirect subsidiary and part of the Perseus Operating Group (“Perseus”) of Constellation Software Inc. (“CSI”), together with its affiliates, has completed the acquisition of 100% of the outstanding shares of AutoSoft Dynamics (PVT) LTD., as of 15th April 2022.
This represents Contour’s first acquisition, and the first acquisition of a Pakistan-based software company for CSI. Contour, established in 2010, has grown from an initial 13 people to 1,350+ staff, located across Karachi, Lahore & Islamabad, and is serving the needs of nearly 200 CSI companies globally.
Bilal Mahmood, Managing Director of Contour, commented, “AutoSoft has built word-class core banking software which is competitive globally. We are very impressed by the business, founded by the Late Lutfullah Khan, one of Pakistan’s early IT pioneers.” He continued, “We are also incredibly pleased to welcome AutoSoft and its talented and dedicated staff to our group, including those who worked directly with the founder since the beginning. Given CSI’s buy-and-hold-forever philosophy, we are immensely encouraged by the long-term focus of AutoSoft’s key staff, as we look to maintain our ‘Software for Life’ promise. We look forward to investing further in the team and offering of AutoSoft, in order to continue to serve its customers better.”
“AutoSoft is a made-in-Pakistan company that has both local and global banks as its customers. Our growth has been a result of our late founder’s vision and incredibly hard work by our core team,” said Sadia Khan, who shall transition from CEO of AutoSoft to a role at Contour. “We are excited about the growth this transaction will bring our employees, our business, and our customers. We look forward to adopting the best practices of CSI while continuing to leverage our deep industry domain knowledge and expertise,” she added. AutoSoft (https://www.autosoftdynamics.com), founded in 2000 by Lutfullah Khan, built upon his 30+ years’ experience in global banking at the time, to develop a core banking suite of solutions, which 22 years later helps run nearly 3 dozen banks and financial institutions across Asia & Africa.
CSI (https://www.csisoftware.com) is publicly traded on the Toronto Stock Exchange (TSX: CSU), and together with its subsidiaries is an international provider of market-leading software and services to a number of industries, with the mission to acquire, manage and build market-leading software businesses that develop specialized, mission-critical software solutions to address the specific needs of particular industries. CSI and its subsidiaries have well over 25,000 employees generating in excess of $5B in global revenues, across more than 100 countries. Perseus (https://csiperseus.com), an operating group of CSI, currently comprises over 50 companies in more than a dozen industry vertical markets around the world. Perseus entered Pakistan in 2010, with the establishment of Contour as an offshore center to serve the staff augmentation needs of CSI companies all over the world.