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Halogen Software Inc. considers alternative strategies

January 12th, 2017. Halogen Software Inc. (TSX: HGN), Ottawa-based HR software company, announced the formation of a Special Committee to evaluate strategic alternatives. The committee was formed in a response to the interest expressed by third parties to acquire the company. Halogen shares have performed poorly in the past two years as it faces increased competition; at one point, shares were trading just above half of the original IPO price ($6.61 on January 2016 vs $11.50 on May 2013). It will be interesting to see who the potential buyer is and if this transaction will come to fruition.
Sources: NewsWire, Bloomberg, Google Finance

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CPPIB

January 11th, 2017. Canada Pension Plan Investment Board announced US$1.5B investment into GlobalLogic Inc. (representing a 48% stake), a California-based IT outsourcing company with its core operations in India. The company offers offshore software R&D services and over the past 16 years has partnered with businesses across every major industry, including over 80% of the world’s top technology brands. CPPIB’s acquisition increases its exposure to India, with already over $2B invested in the region. Due to the uncertainty in the global economy, investors continue to further diversify their portfolios geographically.
Source: Economic Times

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Perk Inc. acquired by RhythmOne

December 5th, 2016. Perk Inc. (TSX: PER) announced it will be acquired by RhythmOne PLC (LSE: RTHM) for US$42.5m. The transaction finalized on January 19th, 2017, shareholders of Perk will receive 4.5 ordinary shares of RhythmOne for each Perk share held. Perk Inc is a cloud-based mobile rewards platform provider with headquarter in Waterloo, and RhythmOne is a San Francisco-based digital marketing company. The acquisition will help both companies achieve a greater scale as Perk will have access to brands from RhythmOne, and RhythmOne will have access to Perk’s users.
Source: Business Wire

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GE Acquires Bit Stew

November 15th, 2016. General Electrics (NYSE: GE) announced its acquisition of Industrial Internet-of-thing (IIot) company Bit Stew Systems Inc for US$153m. Bit Stew’s first big client was BC Hydro, at that time it was providing data gathering services for BC hydro’s smart meters across the province. In 2015 Bit Stew expanded its operations into industrials, the expansion effectively gathered the interest of GE, who led Bit Stew’s Series B financing. GE was also Bit Stew’s largest client. This acquisition comes as GE continues to expand Predix, its own industrial internet platform, GE expects Bit Stew’s platforms to be fully integrated with its own Predix.
Sources: The Globe and Mail, WSJ

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