Five Canadian technology companies have recently made acquisitions, including Converge Technology Solutions, WeCommerce, Carebook, Deloitte Canada and Mednow. Here is the latest information on Canadian engine shakers.
Converge acquires a majority stake in REDNET AG
Toronto-based Converge Technology Solutions acquired a 75 percent stake in Germany-based IT services provider REDNET AG, with a cash adjustment of about $ 141.7 million (€ 96 million) plus cash. The purchase agreement allows Converge to acquire the remaining 25% of REDNET AG in three years.
The deal marks Converge’s 23rd acquisition to date. According to Converge, the deal paves the way for the Toronto-based company to announce its pre-announced European expansion, which will “greatly enhance” the company’s ability to serve customers around the world. Converge financed REDNET AG’s acquisition of equity through a June transaction offer that provided gross revenue of $ 172.5 million.
Converge was founded in 2017 to create a national platform for Canada և United States regional technology infrastructure firms. The high-achieving TSX-listed company offers a range of digital infrastructure solutions, from data analytics to cloud-cyber security services. In June, Converge announced plans to acquire Vicom Infinity և Infinity Systems software.
WeCommerce Acquires Archetype Themes
Victoria Holding company WeCommerce has agreed to acquire all of Toronto’s Archetype Themes assets for up to $ 40.25 million CAD ($ 32 million). The purchase price consists of a $ 20 million down payment, plus a $ 12 million conditional refund.
Archetype Design ակում Develops premium themes for Shopify sellers. According to WeCommerce, Archetype themes are used by more than 60,000 Shopify merchants, and the company’s Impulse theme is the most popular version available in the Shopify theme store.
The acquisition is expected to close in the next 45 days. WeCommerce plans to finance the initial expenses through cash և loans based on its guaranteed loans, as well as financing the income to be paid in cash or by issuing WeCommerce Class A shares. Once acquired, Archetype will continue to operate as an independent brand.
Founded in 2019, WeCommerce is a holding company focused on building, acquiring, investing in SaaS ապրանքների digital products և services, building applications, themes, and running agencies that support Shopify merchants. WeCommerce recently closed down a $ 33.7 million deal to acquire more companies in the Shopify ecosystem. Following the acquisition of Archetype, WeCommerce said that WeCommerce-themed themes will include five of the top seven highest paid paid stores in the Shopify theme store.
Carebook acquired by CoreHealth
Montréal healthtech acquired Carebook-based Kelowna-based CoreHealth Technologies for $ 9 million CAD to expand its global reach.
CoreHealth offers a platform that supports corporate health care providers, large insurers, human resource consulting firms, employee support program providers, health care providers, population health care providers, group benefit brokers, health education providers և major employer health ծրագր : Carebook recently funded the acquisition through a $ 11.28 million CAD-mediated private placement.
Carebook has agreed to pay a base purchase price of $ 9 million, with no cash, no debt, with the usual closing adjustments. CoreHealth is a strategic addition to Carebook, as the company generates more than $ 3 million in revenue annually, owns “strategic” technology, and has a license base of more than two million customers worldwide.
Founded in 2012, Carebook offers digital health և virtual care solutions to pharmacies, employers և insurers. The company is currently trading on the TSX Venture Exchange (TSXV) under the CRBK logo. Carebook was recently acquired by InfoTech, which operates as a Wellness Checkpoint.
Deloitte Canada acquires Dataperformers
Canadian Deloitte acquires Montréal startup Dataperformers to boost its artificial intelligence business. The financial terms of the transaction are not disclosed.
Founded in 2016, Dataperformers is an early-stage engineering-applied artificial intelligence (AI) startup. Dataperformers Macula AI platform offers the ultimate artificial intelligence solutions for visual testing.
Deloitte said that Dataperformers brings “an experienced team of new, highly sought-after Montreal-based talent in the field of artificial intelligence and computer vision.” The company team is going to join Deloitte Omnia AI business throughout Canada.
Dataperformers co-founder Mehdi Meray և COO Amin Ben Aid joins Deloitte as գործընկեր CEO համապատասխան. Startup CPO Ali Elawad և CTO Gabriel De Lisi will also join Deloitte as senior managers.
Deloitte said the deal would increase the company’s ability to use artificial intelligence in machine learning, particularly in computer vision and machine learning operations. The acquisition of Dataperformers follows Deloitte’s recent acquisitions of Clockwork, Groundswell Group և TWG.
Mednow acquires Medvisit
Mednow Toronto, which offers a virtual pharmacy on demand, bought Medvisit for up to $ 2 million. The purchase price consists of $ 1.32 million in cash at the time of closing և conditional income up to 6 $ 680,000, provided Medvisit acquires profit margins.
According to Mednow, Medvisit, which focuses on the Greater Toronto area, is “Canada’s largest and longest-lived home doctor service.” Medvisit visits the homes of approximately 30,000 patients annually, serving more than 400,000 patients since its inception. Over the past fiscal year, Medvisit earned about $ 3 million in revenue for a gross profit of about $ 790,000.
Mednow was released by TSXV earlier this year, providing $ 37 million in CAD. The company announced that the acquisition of Medvisit strengthens Mednow’s global healthcare offer for patients, which currently includes pharmacy services, telemedicine and mental health assessment.
Through the Medvisit Patient Network, Madney said she is now “well positioned to offer a full range of services” to a large subset of patients who can greatly benefit from the full range of digital healthcare and delivery services. The company added that the acquisition of Medvisit underscores Mednow’s “continuous approach to accelerating our strategy through both organic development and mergers and acquisitions.”
Feature image of Roberto Cortese via Unsplash