Today in Acquisitions: IntelliGO, Symon.AI

In the past few weeks, several companies have made announcements on acquiring Canadian technology startups. Here’s the latest on Canada’s movers and shakers.

IntelliGO Networks acquired by ActZero

Toronto-based cybersecurity services startup IntelliGO Networks has been acquired by Palo Alto-based AI company ActZero. Through the acquisition ActZero hopes to create a “unified AI-driven security platform.” The terms of the deal were not disclosed.

“We are building the future of cybersecurity together.”

Founded in 2005, IntelliGO provides managed detection and response services for small and medium enterprises with business-critical applications. IntelliGO will continue to operate as an independent entity and, according to ActZero, the two companies will work together to “revolutionize” the managed security services landscape.

“We are building the future of cybersecurity together,” said IntelliGO founder and president Khaled Mansour. “The expertise in AI and machine learning that ActZero’s team brings is a game-changer.” Mansour claimed the acquisition would improve IntelliGo’s efficacy and efficiency to improve its ability to reduce risk for clients.

ActZero said the acquisition will enable it to deploy and scale similar tools, as well as process improvements to gain efficiencies and deliver faster and more predictable service.

“IntelliGO’s offering is exceptional, with deep client relationships, flexible proprietary software, and critical insight off which to build models,” said ActZero CEO Sameer Bhalotra. “That’s what makes this combination so complementary, and what makes our ambitious goals so achievable.”

Augmented intelligence startup Symon.AI acquired by Varicent

Toronto-based augmented intelligence startup Symon.AI has been acquired by Varicent, a sales performance management (SPM) provider and software company also based in Toronto.

Symon.AI’s tech platform built on natural language and machine learning algorithms provides advanced analytics to business users and data scientists. The acquisition of Symon.AI adds data collectors, data preparation, and augmented intelligence features to Varicent’s platform. The terms of the deal were not disclosed.

“With Symon.AI, Varicent has cracked the code on Smart SPM, delivering virtually instant evidence to confirm suspicions and decisions based on data, in the most potent and complete offering in the practice of SPM,” said Varicent president and CEO Marc Altshuller.

Image courtesy IntelliGO via Twitter


Denise Paglinawan

Denise is a writer for BetaKit. She spends most of her free time with her pug, Timbit.

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