August Software and IT Monthly Newsletter
In This Edition:
Highlights from July
Public Market Dashboard
The Whitehorn Matrix
Financing
Mergers and Acquisitions
Highlights from July
July 2 - Calgary based robotics and automation startup Attabotics files for bankruptcy protection. The company previously raised US$165MM between 2019 and 2022.
July 16 - Cogeco to launch its Canadian wireless service covering 12 markets across ON and QC throughout the summer.
July 17 - The U.S. House of Representatives passed a bill to create a regulatory framework for US-dollar pegged stablecoins. The bill includes anti-money laundering and sanction laws, as well as mandates that issuers hold reserves backing the cryptocurrency.
July 18 - Meta declines to sign the European Union’s AI code of practice, citing restraints on tech development and the uncertainty created.
July 28 - Bell Canada announces a partnership with Cohere to provide full-stack sovereign AI solutions for government and enterprise customers nationwide.
Public Market Dashboard - Year-to-Date Returns
The Whitehorn Matrix
Check out our Matrix for the latest and greatest in tech:
Financing
Below we summarized a few recent tech financing transactions:
Mergers and Acquisitions
Application Software:
July 7 – Montreal based Workleap acquires Toronto based Barley. Acquisition of compensation planning software platform provider to enhance offerings to launch new AI solution.
July 16 – Toronto based Rocscience acquires Italian company 2SI. Acquisition of engineering software solutions provider specifically for structural engineering to expand engineering software solutions.
July 22 – Miami based Ibanera acquires Montreal based ESA Technologies. Acquisition of LATAM-based tech firm developing mobile applications for sports franchises to offer digital asset and fiat payment infrastructures to new market segment.
IT Consulting & Services:
July 3 – Deloitte Canada acquires Toronto based Allevar. Acquisition of fintech firm with technical expertise in key risk and compliance areas to strengthen capabilities in regulatory compliance and technology solutions for industries.
July 15 – Edmonton based F12.net acquires Calgary based AMTRA Solutions. Acquisition of Microsoft technology partner with expertise in Azure, Modern Work and AI solutions to modernize and scale tech offerings.
July 22 – The Carlyle Group (NASDAQ:CG) acquires Toronto based Adastra. $400MM acquisition of IT consulting firm specializing in data analytics, cloud technology, business intelligence, DevOps, and robotic process automation.
July 25 – Calabasas, CA based OSI Digital acquires Mississauga based ERP Buddies. Acquisition of Oracle Netsuite solutions provider offering ERP solutions to complement technical expertise and to strengthen ERP solution offerings.
Data Processing & Outsourced Services:
July 1 – NVIDIA acquires Toronto based CentML. Acquisition of machine learning and AI startup assisting companies to identify hardware to boost performance and reduce ML model costs.
July 1 – Australian company Codeifai (ASX:CDE) acquires Sherwood Park, AB based AntennaTransfer.IO. Acquisition of AI-powered quantum resistant platform enabling secure payments, file transfers and end-to-end communications with the target to be rebranded as QuantumAI Secure.
July 7 – Vancouver based Miraterra acquires Ames, IA based Trace Genomics. Acquisition of full suite of IP, in-market products and an analytical lab of Ag-tech firm to advance the field of soil-to-table measurement and insights.
July 17 – Carrier Connect Data Solutions (TSX:CCDS) acquires Ottawa based PureColo. $4.1MM acquisition of telco provider operating a data centre in Ottawa to enhance offerings.
July 22 – Toronto based Dig Insights acquires Toronto based OneCliq. Acquisition of AI-enabled startup that mines social media to assist in understanding consumer sentiment for marketing purposes to enhance customer experience and offerings.
Systems Software:
July 7 – Toronto based Vitalhub (TSX:VHII) acquires Kingston, ON based Novari Health. $43.6MM cash acquisition of healthcare software provider of patient flow solutions with ARR of $12MM and breakeven adj. EBITDA to strengthen market position.
July 15 – Tampa, FL based Advantive acquires Burlington, ON based PINpoint. Acquisition of manufacturing execution system (MES) provider to broaden product lineup with no-code MES software.
Internet Services & Infrastructure:
July 12 – Vancouver based AstraFintech acquires Dexlab. $10MM acquisition of pioneering Solana-native token launching and tooling platform provider to accelerate PayFi adoption across Asia and other geographic areas.
July 15 – Miami based Sitero acquires Toronto based Axiom Real-Time Metrics. Acquisition of e-clinical solutions and full-service global clinical operations provider to enhance global life sciences offering through tech-enabled solutions.
July 29 – Thunder Bay based Turnkey Communications acquires Toronto based WYRED. Acquisition of connectivity solutions provider including its flagship private network platform, KYRO from SMPH Consulting to expand capabilities to deliver rugged, on-demand connectivity to industrial, mining, energy and remote infrastructure environments.
July 31 – Ottawa based Versaterm acquires Austin based DroneSense. $138.5MM acquisition of universal drone management platform provider to incorporate into Versaterm's computer-aided dispatch and other incident command systems.
