OpenText closes $5.8 billion USD acquisition of Micro Focus, makes workforce reduction
OpenText said it expects to cut the combined entity’s teams by 8 percent due to Micro Focus acquisition.
SaaS
Faced with insolvency, Ottawa’s Tehama forges ahead with founder-backed restructuring
Software startup for remote teams pursuing federal contract after fundraising falls through, bank relationship sours.
S|W: The SaaS Weekly – Hootsuite swaps CEOs amidst third set of staff cuts
Plus: Magnet Forensics gets acquired in $1.8 billion CAD deal.
Canadian-led, New York-based AtomicJar aims to hire in Canada with $25 million USD Series A
US software testing firm hopes to build “centre of excellence” in Canada.
Pender Ventures closes first half of $100 million target for second venture fund
After focusing primarily on Western Canada, Pender Ventures has its eye on other parts of Canada.
Spinout Traction Complete standing on its own with new $6.7 million CAD Series A, big-name clients
Startup will stay in the family business after ex-parent Traction on Demand’s acquisition by Salesforce.
Harvest Builders, Headversity, among 15 recipients of $25.5 million PrairiesCan investment for Calgary businesses
The funding is expected to support over 800 jobs in healthtech, cleantech, other sectors.
TSX-listed Magnet Forensics to be acquired by Thoma Bravo in $1.8 billion CAD deal
Announcement comes hours after IIROC halted trading of Magnet’s shares.
S|W: The SaaS Weekly – The best places to work in Canada are US SaaS companies
Plus: Supply Vision acquired for $16 million.
Benevity cites lower than expected customer demand as cause for 14 percent layoffs
Benevity joins Hootsuite, Lightspeed, Clutch, Clearco in significant staff cuts.
Milk Moovement countersues US competitor Dairy LLC, alleges monopoly abuse over dairy intelligence industry
Relationship soured last year when Milk Moovement allegedly spilled Dairy’s “trade secrets.”
Hootsuite CEO Tom Keiser replaced amid third round of layoffs
The cuts mark Hootsuite’s third round of layoffs in the last six months.
Vidyard sets sights on $1 billion in revenue as it bolsters go-to-market efforts
CEO says Vidyard considering M&A opportunities amid tech downturn.
NowVertical secures $7 million CAD credit facility, completes Acrotrend, Smartlytics acquisitions
NowVertical acquires more capital to fuel acquisition strategy.
S|W: The SaaS Weekly – Salesforce latest Big Tech company to make cuts in Canada
Plus: ApplyBoard swaps CEOs.