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

Posted by Brent Holliday

July was a slow month for M&A in Canada, mainly because we don't count the remaining purchase of Bell Aliant by BCE as a technology deal.

There were only 16 transactions generating a total of $269M CAD in announced value for July after a $373M June.

Wipro, the third largest IT service company in India, has acquired Edmonton's ATCO I-Tek in the largest technology deal of the month. Elsewhere, Retsly, a mere 6 months out of the GrowLab accelerator, was bought by Zillow, the world's largest home and real estate market place in a deal advised by GCA.

Because we report the M&A transactions from the sell-side, we haven't been tracking Canadian technology companies buying foreign companies. This month, you see in our data that Hardy Capital "bought" Shoe Me. In fact, it was part of a combined roll-up of Shoes Online, a Seattle company and Roger Hardy reported that the combined entity approaching $200M in sales. So, it isn't in the data, but was still a prominent transaction.

 

 

Canadian technology financings had their second lowest month of the year at $88.7m in total over only 16 transactions (only April was lower).

The biggest deal was Toronto's Freshbooks raising a total of $32M CAD in it's first round. Oak Investment Partners led the round. Other investors included Atlas Venture and Georgian Partners. Georgian Partners was busy as they also gained an equity position with Vision Critical after leading the $16M CAD raise this month.

 

 

Finally, Montreal's travel app start-up, Busbud Inc., raised $9M CAD through funding led by Revolution Ventures and OMERS.

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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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