Posts Tagged Tech

Shopify Makes Its Third Acquisition

Shopify, the Ottawa-based ecommerce platform that is one of the biggest success stories in the Canadian technology sector these days, announced that it is acquiring San Francisco-based Kit, which offers an online marketing assistant for ecommerce portals.  Terms of the deal were not disclosed.

Kit was founded in 2013 and had raised an undisclosed amount of seed capital from Technicolor Ventures and Visionnaire Ventures in 2014.  Its tools allow online retailers to utilize Facebook to market their products and communicate with customers.

Shopify has been around since 2004 and is regarded as one of the leading Canadian tech companies.  Its platform offers a simple way to set up and maintain an online store with a full suite of ecommerce tools that enable things like payment processing and inventory management.  The company went public last year on the NYSE and TSX, raising over $130 million.  This is the company’s third acquisition but its first since becoming publicly-listed.

To read more about the transaction, click here.

Posted in: M&A News

Leave a Comment (0) →

Waterloo’s Aimetis Acquired By Senstar

Aimetis, a Waterloo-based company that developed a suite of software products to manage security surveillance, is being acquired by Senstar for a reported US$14 million.  Aimetis was founded in 2001 and received $5 million in growth capital from Covington Capital in 2010.  Its software is used in sectors such as retail, government, transportation, and healthcare and enables users to analyze their surveillance video footage and supports camera networks and other security infrastructure.

Senstar is the Canadian division of Magal Security Systems, a provider of security, safety, and site management platforms for airports, seaports, borders, prisons, and other institutions in over 75 countries.  It is based in Yehud, Israel and is publicly traded on the NASDAQ and Tel Aviv Stock Exchange.

For more information, click here.

Posted in: M&A News

Leave a Comment (0) →

Solace Systems Sells Majority Stake to PE Firm

Kanata-based middleware company Solace Systems has sold a majority stake to Bridge Growth Partners, a private equity firm in New York City that makes investments in the technology and financial services sectors.  Terms of the transaction were not disclosed.

Solace Systems was founded in 2001 and manufactures and sells networking software and hardware equipment that enables cloud computing, e-commerce, big data, and other capabilities.  According to the company’s founder, it has raised $80 million in growth capital from institutional investors since its inception.  It plans to use the new capital from Bridge Growth to fund its international expansion strategy and its sales initiatives in the transportation, aviation, and gaming industries.

You can read more about the transaction here.

Posted in: PE/VC News

Leave a Comment (0) →

Snapchat Snaps Up Toronto’s Bitstrips For $100 Million

Toronto-based emoji maker Bitstrips is being acquired by Snapchat, the popular photo and video sharing mobile app, for a reported $100 million.

Bitstrips allows users to create personalized emojis and avatars that can be inserted into short comic strip sand shared via social media. It was founded in Toronto in 2007 and raised over $18 million in capital from investors that included Kleiner Perkins Caufield & Byers and Horizons Ventures, the investment fund belonging to Hong Kong billionaire Li Ka-shing.  The Bitstrips app has been downloaded over 11 million times.

This is fantastic news for one of Toronto’s best known tech companies in the social media space.  It will be interesting to see if Snapchat keeps the current team and office in place and uses this acquisition to create a presence in Toronto.

To read more about the transaction, click here.

Posted in: M&A News

Leave a Comment (0) →

Hootsuite Makes Its Tenth Acquisition

Hootsuite, the Vancouver-based social media management company, announced it will be making its tenth acquisition since its founding in 2008.  The company plans to buy Sales Prodigy, a mobile app that assists corporate clients with their sales efforts by monitoring the social media activities of their sales leads.

Sales Prodigy is also based in Vancouver and was founded in 2014.  It does not appear to have raised any significant growth capital.  Terms of the transaction were not disclosed.

Hootsuite is one of the best known and most highly regarded Canadian tech companies these days.  It has raised almost $250 million in growth capital from some of the largest and most infuential VC funds in the US and Canada.  It is nice to see that it has been deploying some of this capital towards acquisitions, especially considering at least half of the companies it has acquired have been Canadian.

To learn more, click here.

Posted in: M&A News

Leave a Comment (0) →

Influitive Makes Two Acquisitions

Influitive, a Toronto-based company that has built a software platform for customer advocate marketing, made two acquisitions in March.  At the beginning of the month, the company announced that it was acquiring Ironark Software, a company that developed apps for home organizing and business task management.  Less than three weeks later, Influitive announced that it is acquiring Triggerfox, which has built a mobile platform for relationship management.  The financial details of both transactions were not disclosed.  Both of the acquired companies are also based in Toronto.

Influitive is one of Toronto’s hottest new tech companies.  It was founded by Mark Organ, who previously founded the marketing automation software company Eloqua, which was sold to Oracle for over $870 million in late 2012. The company has raised close to $50 million in growth capital from an array of Canadian and US venture capital funds.

After raising an $8.2 million Series B round at the end of February, Mr. Organ indicated that some of this capital would be deployed as acquisitions, and in March he made good on that promise.  It was encouraging to see that Influitive targeted other Toronto-based companies rather than seeking out software and talent further afield.

To read more about these transactions, click here and here.

Posted in: M&A News

Leave a Comment (0) →

Everalbum Acquires Kitchener-Based Pout

Pout, a fashion and beauty photo sharing mobile application based in Kitchener, ON has been acquired by Everalbum, an online photo storage solution for mobile devices that is based in San Francisco.

This is Everalbum’s first acquisition since it was founded in 2013.  It just raised $8 million in venture capital in a Series A round led by Khosla Ventures.

Pout was founded in 2014 and was supported by Velocity, the technology incubator run by the University of Waterloo.  The transaction took shape after Everalbum opened a Canadian office in Kitchener’s historic Tannery building, which the team from Pout will now join.

To read more about the deal, click here.

Posted in: M&A News

Leave a Comment (0) →

Udemy Acquires Vancouver-Based Talentbuddy

Talentbuddy, a Vancouver-based platform that assists and trains programmers using problem solving challenges and other techniques, has been acquired by Udemy, a San Francisco-based online learning platform that offers thousands of courses in a wide variety of topics and disciplines to millions of students around the world.

Talentbuddy, through its parent company Sunnytrail Insight Labs, had previously raised a seed round of capital from BDC Venture Capital, HIGHLINEvc, InitioGroup, and VersionOne Ventures after it was founded in 2013.  Udemy, founded in 2010, has raised $113 million from a wide array of investors, including VCs such as Insight Venture Partners and Norwest Venture Partners.  Despite this impressive sum, this is Udemy’s first acquisition to date.  The financial details were not disclosed.

To read more, click here.

Posted in: M&A News

Leave a Comment (0) →

Hamilton’s CareKit Health Acquired by Moseda Technologies

CareKit Health, a Hamilton, ON-based healthcare software and hardware provider, has been acquired by Moseda Technologies, a TSX Venture Exchange-listed mobile health and telemedicine company based in Vancouver, BC.   The price was reportedly $2 million in Moseda shares and performance warrants.

CareKit’s technology platform consists of mobile software, sensors, and wearables and connects patients with their various healthcare providers and family members, enabling people with serious medical conditions or illnesses to receive continuous monitoring while in their homes.  The company was founded in June 2015 and had not raised any capital from institutional investors.

Moseda Technologies has developed a suite of mobile healthcare solutions.  This was the company’s first acquisition.

To read more about the transaction, click here.

Posted in: M&A News

Leave a Comment (0) →

Juniper Networks Acquires Ottawa-Based BTI Systems

Ottawa’s BTI Systems, which makes cloud and metro networking systems for service providers, has been acquired by Juniper Networks (NYSE:JNPR), the networking hardware manufacturer based in Sunnyvale, CA.  No financial details of the transaction were disclosed.

BTI’s hardware and software facilitate the moving of digital content between data centers within close proximity to one another.  By acquiring the company, Juniper Networks will be better positioned to compete with Cisco, which already offers similar solutions.  BTI Systems was founded in 2000 and raised nearly $133 million in financing.  Juniper Networks was founded in 1996 and is a well-entrenched player in the networking infrastructure space.  It generated over $4.6 billion in revenue during the past four quarters.

To read more, click here.

Posted in: M&A News

Leave a Comment (0) →
Page 1 of 2 12