A Curated List of the Technology Transactions Happening Across Canada: February 2014 Edition

Posted by Brent Holliday

Across Canada in February, technology M&A activity continues to be modest, while private placements are steady in number and total invested dollars.

Technology M&A featured a large e-commerce sale (Vancouver’s Coastal Contacts (TSX:COA) also known as Clearly Contacts) for $436m. This was a 1.8x trailing revenue sale, which is a decent multiple compared to other e-commerce companies of comparable size in the public markets. Many of the other reported acquisitions were small, unlike January which featured three sizable deals.

 

 

Private placements were dominated in February by Aurinia Pharmaceuticals out of Edmonton and its whopping $57.5m investment led by NEA from California. The number of announced investments was up to 28 from 25 in January, but the total was down roughly $6m (or 5%) from January’s total. Other notable deals include two education related companies: Montreal’s EXO U raising $7m in a private placement and Toronto’s Madcap Learning Adventure which announced a $7.5m financing as part of an RTO. Vancouver’s Axine Water raised $6.2m for its wastewater treatment product.

Bitstrips in Toronto was rumoured to have a US$15m investment from Sand Hill Road VC Kleiner Perkins, but neither have confirmed. So we will wait until it is closed to add it to the totals, perhaps in March. We prefer to add the financings when they are closed, rather than announced in order not to double count. For M&A we do the opposite and add them in the month they are announced. If they don’t close, we will go back and remove them.

 

 

Please add any deals we missed or transaction values that can be validated in the public domain. Feel free to comment below or e-mail us at ea@garibaldicapital.com.

Company:
Garibaldi Capital Advisors
Website:
http://www.garibaldicapital.com
Location:
Vancouver, British Columbia, Canada

Garibaldi Capital Advisors is a mid-market M&A and capital raising advisory services firm focused solely on the Canadian technology market. We are redefining transaction advisory by engaging early to add value through the entire growth cycle of a technology company, not only at the transaction stage. We are local to the Canadian market, but very connected to US and global growth equity firms and strategic... more


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Brent Holliday

Brent Holliday

Brent is the co-founder and CEO of Canada’s first technology-focused boutique M&A advisory firm, Garibaldi Capital Advisors. Founded in 2013, Garibaldi helps private technology companies across Canada grow by planning and executing on their capital strategy needs and assisting them through M&A transactions. In its first 12 months, Garibaldi completed over $100 million in transactions,... more



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