Today in acquisitions: Modern Campus, Kovo HealthTech, OSF Digital, DeFi Technologies, Bubblebox

laptop stock

Over the past week, a number of Canadian tech companies have been involved in acquisitions, including Modern Campus, Kovo HealthTech, OSF Digital, DeFi Technologies, and Bubblebox. Here’s the latest on Canada’s movers and shakers.

Modern Campus acquires DIGARC

Modern Campus, a Toronto-based learner engagement software company, has acquired DIGARC, a software company focused on higher education. The financial terms of the deal were not disclosed.

Modern Campus plans to integrate its web experience platform and personalization engine with DIGARC’s course curriculum management software. The deal is intended to help higher education institutions attract and convert more prospective students.

Modern Campus develops software solutions aimed to help universities and colleges engage students through personalized web experiences. The company has 550 higher education customers, and claims it has engaged more than 70 million students with its platform.

This marks the second acquisition by Modern Campus this year. In March, the company acquired nuCloud, which has developed software allowing higher education institutions to build interactive maps and virtual tours of campuses.

Kovo HealthTech to acquire Midwest Medical Billing

Vancouver-based Kovo HealthTech, which creates, acquires, and grows healthtech businesses, is set to acquire Nebraska-based Midwest Medical Billing for about $1.3 million CAD.

The two companies have entered into a binding agreement with the deal expected to close in early July. The purchase consists of $50,000 USD in cash and just over 1.1 million common shares at a price of $1.01 USD each. As part of the deal, Midwest Medical Billing will continue to work under the same brand. UPDATE (07/13/21): Kovo has officially acquired Midwest under the terms outlined above. The deal represents Kovo’s ninth acquisition to date.

Kovo, which was founded in 2020, aims to acquire profitable revenue cycle management (RCM) businesses and works to organically grow these businesses. RCM is a financial process that uses medical billing software to digitally track patient care episodes from registration and appointment scheduling to the final payment of a balance

The Vancouver company began trading on the TSX Venture Exchange last week after filing a non-offering prospectus in late May. To date, Kovo has completed eight acquisitions.

DeFi Technologies acquires stake in SDK:meta

Toronto-based DeFi Technologies has acquired a 10 percent equity interest in SDK:meta, a blockchain tech company.

The deal saw DeFi issue 3 million common shares in exchange for a 10 percent equity interest in SDK:meta, which a spokesperson for DeFi told BetaKit totals approximately $3.5 million CAD.

Based in the United States, SDK:meta aims to drive the adoption of platforms and mobile solutions focused on decentralized finance. As part of the deal, SDK:meta and DeFi Technologies minted to pre-install DeFi Technologies’ decentralized finance ecosystem of products inside of SDK:meta’s platforms.

DeFi Technologies, which trades on the NEO Exchange, builds and manages assets in the decentralized finance sector. Recently, one of DeFi’s subsidiaries, Valour Structured Products, signed a letter of intent with Arcane Crypto to explore launching an exchange-traded product based on Arcane’s cryptocurrency fund. The companies expect to complete the deal later this year.

Bubblebox acquired by VntCap Technologies

Vancouver-based Bubblebox, a Salesforce multi-cloud services firm, has been acquired by Chicago-based VntCap Technologies. The financial terms of the deal were not disclosed.

Bubblebox was founded in 2008 and provides marketing expertise and solutions to companies. The firm specializes in account-based marketing, customer relationship management, and marketing automation for a number of industries, including retail, financial services, and technology. Bubblebox boasts among its customers Tourism Whistler, Easy Financial, MEC, and the Travel Corporation. The company is a Salesforce “Go-to-Market” Marketing Cloud partner, with most of its brand presence existing in Canada.

VntCap Technologies is the parent company of Allant Group, a data-driven marketing firm. As part of the deal, the companies will integrate their solutions. Paul Gordon, co-founder and CEO of Bubblebox, said the deal will allow Bubblebox to grow its services in both the Canadian and US markets.

Bubblebox will remain a separate entity with no changes to the company’s leadership team. Bubblebox co-founders Paul and Tracey Gordon have also joined Allant Group’s senior executive team.

OSF Digital acquiring Werise

OSF Digital, a commerce and digital cloud company headquartered in Québec, is acquiring Werise, a Salesforce marketing and sales service provider based in São Paulo, Brazil. The financial terms of the deal were not disclosed.

Werise develops and implements software and automation solutions aimed to expand business’ online marketing and sales. The deal is aimed to expand OSF Digital’s global marketing cloud capabilities.

OSF Digital has over 1,000 employees and 40 offices globally, and aims to help brands with digital transformation, specifically as it relates to B2C and B2B commerce. The firm has been on an acquisition spree in the last few months, with its last acquisition being Relation1, which closed last week.

OSF Digital also recently acquired New Zealand-based Adept Group in May, which came on the heels of OSF Digital’s $52 million Series B round of funding.

Image source Unsplash. Photo by Christin Hume.

Isabelle Kirkwood

Isabelle Kirkwood

Isabelle is a Vancouver-based writer with 5+ years of experience in communications and journalism and a lifelong passion for telling stories. For over two years, she has reported on all sides of the Canadian startup ecosystem, from landmark venture deals to public policy, telling the stories of the founders putting Canadian tech on the map.