In the past few days, several Canadian companies have made announcements on acquiring technology startups in the IoT, AI, and FinTech verticals. Here’s the latest on Canada’s movers and shakers.
Zomaron acquires DataCandy, rebrands as Paystone
Zomaron, a FinTech startup based in London, Ont., has acquired Montreal-based software company, DataCandy, which develops customer engagement solutions. Zomaron has also rebranded to Paystone.
“Maintaining an acquisitive mindset is key for our product roadmap and growth strategies.”
– Tarique Al-Ansari
Under the terms of the acquisition, Paystone will obtain the DataCandy gift card and loyalty platform and establish DataCandy’s Montreal office as Paystone’s second headquarters. In addition to DataCandy, founded in 2002, Paystone also acquired Alberta-based merchant services provider POS West LTD and BC-based NXGEN Canada, this year. Paystone said these acquisitions helped the company increase its client base by fivefold.
“We brought these companies together because we wanted to disrupt the loyalty and payments industries,” said Tarique Al-Ansari, CEO of Paystone. “These acquisitions tie together complementary software solutions that will enable us to create proprietary products to further enhance Paystone’s value proposition and accelerate our ongoing growth efforts.”
Founded in 2009, Paystone develops payment processing solutions to North American businesses and registered charities. Its software and hardware products allow merchants to accept debit, credit, and e-commerce transactions.
“We are committed to becoming a trailblazer in the payment and software sector, and this is just the beginning,” added Al-Ansari. “Maintaining an acquisitive mindset is key for our product roadmap and growth strategies.”
Rival.ai acquired by Wondr Gaming
Toronto-based esports intelligence and AI integration startup, Rival.ai has been acquired by Wondr Gaming, a company that acquires assets in the esports industry.
Rival.ai will continue to operate, but under the Wondr Gaming banner. CEO James Mifsud will continue in his role at Rival.ai, with Bryan Yale will remain on as COO. Wondr Gaming focuses on the verticals of artificial intelligence, apparel, software, influence advocacy, tournament platforms, and gambling, build and purchasing companies in the esports space.
“We’re thrilled to have completed our first transaction and are actively in discussions with multiple companies for our next acquisition,” said Mike Cotton, a co-founder of Wondr Gaming. “Wondr Gaming does not compete with multi-title platforms. Instead, we are a resource for multi-team businesses and offer products and services that complement and improve their offerings. By developing assets like Rival.ai and fostering the growth businesses we acquire, we have the ability to work with any team or betting entity in esports.”
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Founded in 2018, Rival.ai uses real-time analysis to offer players insight and incentive rewards, providing both esports data and algorithms for betting lines to gaming platforms, as well as insights and solutions for esports broadcasters.
“This acquisition gives us the resources to support an industry we truly love,” said Mifsud. “With this, we will become a leading data provider supporting betting platforms and further developing our core services. We are excited to take our technology to the next level.”
Workali acquired by 2N2Hire
Montreal-based artificial intelligence startup Workali has been acquired by 2N2Hire, another Montreal company that uses AI to read and rank resumes.
Workali aims to help businesses capture 100 percent of job seekers’ resumes online.
2n2Hire said acquiring Workali’s technology will enhance its database of CVs. The acquiring company said it also received financing one month ago, which it said will be used to expand into the European and US markets. 2n2Hire refused to disclose the amount of financing it received.
2N2Hire’s chief product officer Jonathan Amsellem told BetaKit the round was raised by “several actors in the HR industry and private sector.” He added this round made the acquisition possible within a seven-figure valuation.
Founded in 2017, Workali aims to help businesses capture 100 percent of job seekers’ resumes online. The company’s AI tells job seekers if they have a chance to go through the employer’s recruiting process or not instantly. 2n2Hire is a human resources company developing software that would allow employers to source talent from all over the internet. Amsellem told BetaKit Workali has merged with 2n2, and all products and technology will be branded under 2n2Hire’s name from now on.
He added that 2n2Hire aims to be a viable Canadian HR tech competitor to international companies in the sourcing and screening market.
Geotab acquires Intendia
Toronto-based IoT company Geotab has acquired Intendia, a Spanish engineering firm specializing in integrated technology solutions for the heavy-truck market in Europe. Geotab said the acquisition will add to the company’s strong engineering capabilities and bring complementary technology into the company’s product portfolio.
Geotab specializes in the area of global positioning system fleet management and vehicle tracking, also known as telematics. The company was founded in 1996 but has been active in Canada’s startup space. The news comes two months after Geotab launched its smart cities and transportation accelerator program, Torque Labs.
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“The extremely knowledgeable team at Intendia adds immense value to Geotab’s industry-leading engineering skills,” said Neil Cawse, Geotab’s CEO. “Geotab is enjoying rapid growth in Europe and the Intendia team will help to further enhance our ability to meet the unique needs of the European market by providing localized value-add to our customers as well as help grow our market potential.”
Geotab recently announced new offices in Rome and Paris, and has more than doubled its workforce in Europe over the last year. The company has also been included in Deloitte’s Technology Fast 500 list for North America.
Image courtesy Workali via Twitter
