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Miovision acquires Pittsburgh firm Rapid Flow to bolster its traffic management systems (BETAKIT)
Rapid Flow represents Miovision’s second acquisition of a traffic management software provider, following its acquisition of Arizona firm Traffop in July last year.
Indian edtech giant Byju's cuts 2,500 jobs (TECHCRUNCH)
This the second significant layoff the startup, valued at $22 billion, is undertaking in recent months. In June, it cut hundreds of jobs. The move comes amid the ongoing global market downturn, which has forced many startups, including Byju’s, to postpone their plans to file for an initial public offering.
Auvik acquires international SaaS firms Saaslio, Boardgent (BETAKIT)
When Great Hill Partners acquired a majority stake in Auvik last year, Auvik told BetaKit that it had plans to increase its acquisition activity with the $312 million CAD it secured as part of the deal.
Vista Equity Strikes Deal to Acquire Cybersecurity Provider (WALL STREET JOURNAL)
Private-equity firm Vista Equity Partners has struck a deal to purchase cybersecurity provider KnowBe4 Inc. for $4.6 billion in an increasingly rare leveraged buyout as financing for such deals has become harder to secure.
CBC alumni secure $3 million to help musicians collaborate remotely with BeatConnect (BETAKIT)
Founded by a pair of CBC Radio-Canada alumni, CEO Alexandre Turbide and CTO Nicholas Laroche, BeatConnect describes itself as a digital collaboration-based music platform. As Turbide put it in an interview with BetaKit, the music collaboration software space is “fragmented.”
Thoma Bravo buys third identity company this year with $2.3B ForgeRock acquisition (TECHCRUNCH)
In April it acquired SailPoint for $6.9 billion, and in August it snagged Ping Identity for $2.8 billion. That’s a $12 billion investment to basically build a software category in-house.
IP expert Peter Cowan tapped to head Intellectual Property Ontario (BETAKIT)
Cowan has been working as IPON’s head since least late summer, multiple sources confirmed to BetaKit. Those sources, who asked to remain anonymous as they’re not allowed to speak publicly on the matter, noted that Cowan has been taking meetings with members of the ecosystem for several weeks.
Lego Owner to Acquire Education-Technology Firm Brainpop (WALL STREET JOURNAL)
Lego owner Kirkbi A/S is buying U.S. video-learning firm Brainpop for $875 million, according to the companies, as the family behind the world’s largest toy maker expands into the education business.
CareerBeacon acquires employer branding platform provider Ruutly (BETAKIT)
Ruutly joins CareerBeacon after the latter was acquired by Alongside. Founded in 2014 under the name Qimple, Alongside later changed its name in 2016. The company has made a similar change this year.
Now as CareerBeacon, the startup said that its acquisition of Ruutly’s technology and founder and CEO Ryan Porter is an investment in making better connections with job seekers.
Pinterest Leaves Peers in the Dust With 34% Rally (BNN BLOOMBERG)
Shares in the digital pin-board platform have risen 34% from a two-year low in mid-June, as analysts note improving growth in the number of users on the site, as well as how much they’re interacting with content there. In the same period, Facebook parent Meta Platforms Inc. has tumbled 22% and Snap Inc. slipped 12%, through Wednesday’s close.
Alberta tech CEOs sign letter claiming restrictions over “software engineer” title hampering province’s talent gains (BETAKIT)
Companies and startups have written Premier Danielle Smith protesting the “aggressive position” the Association of Professional Engineers and Geoscientists of Alberta (APEGA) has taken over the title of software engineer.
The some 30-plus signatories of the letter contend that APEGA is unnecessarily regulating the designation of software engineer and has made the position subject to “onerous, restrictive, and unnecessary certification requirements.”
Exclusive: Google faces EU antitrust charges over its adtech business – sources (REUTERS)
Alphabet unit Google could face EU antitrust charges next year over its digital advertising business, putting the company at risk of its fourth fine in the EU of more than a billion euros, people familiar with the matter said on Thursday.
26 Canadian tech startups added to list of firms on path to $1 billion in annual revenue (BETAKIT)
Combined with the 35 startups named to Communitech’s initial list, which was published in June, the tech hub has now identified a total of 61 privately-held Canadian tech firms on the path to hitting $1 billion in annual revenue, based on each company’s current annual revenue and growth rate.
How Palantir’s tech-based patriotism and politics grew into a multi-billion dollar company (CNBC)
At its start, Palantir’s business came directly from the FBI, the NSA, and even the CIA, whose venture arm In-Q-Tel was one of the company’s earliest backers. CEO and co-founder Alex Karp is a self-proclaimed American patriot. For Karp, data and defense are intertwined, and his company’s contracts with government agencies reflect a commitment to leveraging technology to bolster the West.
The company’s earliest splash was reportedly helping to find Osama bin Laden over a decade ago, and this year, Palantir began work for Ukrainian military operations.