Helsinki, Finland-based Glaston Corp. has closed the previously announced sale of its shares in Albat+Wirsam Software GmbH (A+W) to Constellation Software Inc., acting through its Friedman Operating Group.
The agreement to sell A+W was subject to customary closing conditions including a competition review by the German Federal Cartel Office, all of which have been satisfied, according to a company release.
Glaston acquired Albat+Wirsam Software Group in July 2007 and it has operated as a business area within Glaston Group since then.
“We are glad that all formal hurdles have been overcome and the closing could be completed today,” says Dr. Uwe Schmid, CEO of A+W. “Together with the whole A+W team, I am looking forward to continuing the steady growth of A+W as market leader in software for glass and windows in partnership with Friedman and Constellation.”