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  5. CSU: It’s been a massive day for Constellation with the acquisitions of both Symplicity and Zonal being announced. [Constellation Software Inc.]
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Investment Q&A

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Q: It’s been a massive day for Constellation with the acquisitions of both Symplicity and Zonal being announced. Given the scale of these market leaders, how significant do you think this day is for CSU’s 2026 growth strategy, and do you see this volume as a signal that they are accelerating 'large deal' deployments to capitalize on the AI shift? I’d love to get your take on whether these additions—with their vast datasets in education and hospitality—align with the goal of improving long-term margins through AI-driven software optimization
Asked by jean on February 04, 2026
5i Research Answer:

*edited for addition**

Simplicity deal terms were not announced, but serving 1,200 universities and 7 million students it looks fairly substantial and looks like a solid roll up for CSU. Very little details were given on Zonal, but it fits will with Volaris's healthcare suite. It has over 700 employees and a presence in more than 16,000 sites across the UK, so is of decent size. We would not read too much into this, though. They look like 'standard' CSU deals, and deals do not really follow any set timeline. They happen when they happen. Without details on size, it is hard to say there is a 'shift' of any kind. But, it is a good signal, in that it is 'business as usual' for CSU. In addition, it is possible that private valuations have shifted along with public valuations, so we could see more deals coming, but until we do that is just speculation.