how much stake csu owns in topicus ?

Constellation Software Inc. (CSU) maintains a significant stake and majority control over Topicus.com Inc. (Topicus) following its 2021 spin-out. Because of the company's unique corporate structure, the exact percentage depends on whether you are looking at equity, voting rights, or accounting metrics:

• Economic / Equity Stake: CSU directly owns approximately 48.5% of Topicus's outstanding subordinate voting shares (holding roughly 40.4 million shares).
• Voting Power: CSU holds one "Super Voting Share" in Topicus. This special share is designed to always guarantee CSU exactly 50.1% of the total aggregate voting rights, giving Constellation majority control over the company's decisions.
• Consolidated Accounting Interest: For financial reporting purposes, CSU consolidates Topicus on its balance sheet. Due to an investor rights and governance agreement with the Joday Group (the original founders and minority owners of Topicus's operating subsidiary), CSU reports an effective equity interest of approximately 60.6% in its financial statements.

In short, Constellation holds roughly half of the economic value but maintains strict voting control over the entity.