Over the past week, three Canadian tech startups have been acquired: Invigo Media, Crowd Content, and Xpertdoc Technologies. Here’s the latest on Canada’s movers and shakers.
Marketing tech services startup Invigo Media acquired by Wishpond
“I believe Invigo can greatly benefit from leveraging Wishpond’s marketing expertise and resources.”
Wishpond has agreed to pay $835,000 for Invigo Media up front, plus a two-year performance earn-out in cash, common shares, or both, based upon Invigo’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). In total, Wishpond said it expects to pay up to $3 million.
Founded in 2015, Invigo Media helps medical clinics in Canada and the US grow their practices via marketing, web, and social media services. It serves industries including health and wellness, dentistry, and plastic surgery.
“We look forward to working with the Wishpond team and further expanding our reach within the digital health sector and adjacent verticals across North America,” said Invigo Group founder Bob Mangat. “Furthermore, I believe Invigo can greatly benefit from leveraging Wishpond’s marketing expertise and resources, leading to increased growth in the business.”
Invigo has developed proprietary client relationship management and performance marketing tools, which Wishpond plans to combine with its “all-in-one” marketing platform.
Wishpond, which was founded in 2009, serves over 2,000 small to medium-sized business customers via its subscription-based marketing platform. In December, the company began trading on the TSX Venture Exchange.
“We are delighted to have chosen Invigo as Wishpond’s first acquisition which is in line with our strategy to grow inorganically through tuck-in acquisitions of marketing and sales technology companies and marketing agencies,” said Ali Tajskandar, Wishpond’s chairman and CEO.
Crowd Content acquired by Sage Capital, Cetina Capital
According to the company, the acquisition will help accelerate Crowd Content’s growth and
“allow for investment into [its] platform.” Crowd Content said it will use this investment to bring content creation tools that “leverage AI technology” to market.
Founded in 2011, Crowd Content helps businesses generate quality content at scale by connecting them with writers and editors through its platform.
“Sage and Cetina are excellent partners for the next phase of Crowd Content’s growth. We are in a very exciting space, and this new partnership will help Crowd Content serve its current customers better, while continuing to grow the customer base,” said Crowd Content founder Clayton Lainsbury, who will remain involved in the company post-acquisition and hold a seat on its board of directors.
Carlos Meza, who was formerly Crowd Content’s acting COO, has become the company’s new president and CEO. Prior to joining Crowd Content, Meza served as the CEO of Ottawa EdTech company Kivuto Solutions.
“We have an opportunity in front of us to scale up quickly and accelerate our growth, and I am looking forward to leading the team during this exciting time,” said Meza.
Quebec’s Xpertdoc Technologies acquired by Experlogix
Founded in 2000, Xpertdoc Technologies is a Terrebonne, QC-based document software provider that aims to help organizations “digitally transform their document-centric processes” via automation.
“This acquisition brings significant value to Xpertdoc customers and partners,” said Richard Brossoit, Xpertdoc’s CEO. “This further strengthens our effort to help organizations to deliver better documents, faster.”
According to Experlogix, which allows companies to sell products and services via its configure, price, quote (CPQ) software, the Xpertdoc acquisition will enable it to provide document automation capabilities to new and existing customers.
Experlogix and Xpertdoc Technologies already share a number of customers, and can both be integrated with CRM and enterprise resource planning (ERP) platforms like Microsoft Dynamics and Salesforce.
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