This morning Ottawa's Protus IP Solutions announced that they have been acquired by j2 Global Communications for CDN $213 Million.
Established in 1997, Protus provides Software-as-a-Service communications services and solutions to the business market under a number of very recognizable brands: MyFax (internet fax), Campaigner (email marketing) and My1Voice (virtual phone service).
Protus is an excellent example of a successful Ontario-based venture-backed success story and underscores the importance of venture capital to Canadian enterprises.
Protus first raised venture capital investment from Ontario-based institutions in 1999 and the Company has grown to one of the leading SaaS providers in North America. Institutional shareholders are exiting via the transaction and include BEST Funds, BMO Capital Corporation, Celtic House Venture Partners, Covington Capital Corporation, Edgestone Venture Fund and Mosaic Venture Partners.