Currently in acquisitions: Paymi, EchoLotto, EssayJack, Company Capital, Allocadia, Pluribus
Six Canadian technology companies have recently made or were acquired, including Paymi, EchoLotto, EssayJack, Company Capital, Allocadia and Pluribus. Here is the latest news on movers and shakers in Canada.
EQ Works acquires Paymi to expand into new verticals
EQ Works has completed the acquisition of Paymi, a Toronto-based tech startup, for a total of $ 2.5 million, which it says will allow EQ to enter the incentive data market and loyalty.
Paymi, which was founded in 2014, is a marketing platform that offers customers cash back rewards and helps merchants better understand their buyers. Founded in 1994, EQ is a TSX Venture listed company that provides geospatial data and artificial intelligence software.
EQ said the deal adds a new revenue stream, makes it easier for the business to expand into new verticals, and adds a technology platform that secures third-party data. The company said having access to this data would improve EQ’s analytics and AI framework. The company plans to integrate Paymi’s data into its own platform to give its customers more in-depth insights and the ability to drive sales by targeting and rewarding customers.
Wize acquires EssayJack, a Canadian edtech start-up
Vancouver-based e-learning startup Wize has acquired Toronto-based EdTech company EssayJack for an undisclosed amount.
EssayJack, which was founded in 2015, offers a patented software solution that helps students write academic papers, from book reports to speeches and essays. Wize said that EssayJack has served over 30,000 students to date.
Founded in 2017, Wize offers high school and college exam preparation, tutorials, tutoring and other study tools through its platform. The startup claims to have helped more than 100,000 students to date in STEM subjects. Earlier this year, Wize raised C $ 3.8 million in funding.
âOur acquisition of EssayJack complements our core educational content by complementing our robust STEM offering with a world-class literacy tool,â said Cyrus Moradian, CEO of Wize.
As part of the deal, Lindy Ledohowski, CEO of EssayJack, joins the Wize leadership team as vice president of operations. The two companies plan to launch into schools in Canada and the United States in August.
Trellis acquires EchoLotto, aims to help charities raise funds
Kelowna-based Trellis Social Enterprise has acquired another Canadian charity software provider EchoLotto. Financial terms of the transaction were not disclosed. The agreement increases Trellis’ customer base, product offering and team.
Founded in 2018, Trellis offers a software platform for charity events. EchoLotto, which is based in Regina, is a charity raffle provider founded in 2015.
Together, Trellis and EchoLotto aim to become the first approved raffle provider to offer other sources of income to charities. The startup plans to expand across Canada, having initially focused on Saskatchewan. Paul Burch, CEO and Founder of EchoLotto, joined the Trellis team as part of the deal, becoming its sales and raffle manager.
Merchant Growth acquires Company Capital, competitor of British Columbia
Vancouver-based Merchant Growth, in conjunction with the Merchant Opportunities Fund, acquired the portfolio and business assets of the Victoria-based competitor Company Capital for an undisclosed amount.
Founded in 2009, Merchant Growth is a Vancouver-based FinTech company that provides small Canadian businesses with âquick and easy accessâ to working capital. Company Capital, which was founded in 2011, also supports the working capital needs of small businesses.
As part of the deal, Merchant Growth has acquired all of Company Capital’s clients, who will not see any changes to their existing loans. According to the Vancouver Tech Journal, Merchant Growth has provided more than $ 300 million in financing to more than 5,000 companies since its inception.
Allocadia to be acquired by BrandMaker, another SaaS marketing company
Germany-based BrandMaker has entered into a definitive agreement to acquire Allocadia, a Vancouver-based marketing software company. Terms of the deal, which is expected to be finalized next month, were not disclosed.
Founded in 2010, Allocadia focuses on marketing budgets, planning and performance management. According to Allocadia, companies like Autodesk, Charles Schwab, Juniper Networks and Land O’Lakes manage more than $ 25 billion in marketing using its software. BrandMaker aims to give corporate marketers the visibility and control they need to optimize their operations.
BrandMaker said the combined company “will further meet the needs of marketing managers and marketing teams,” adding that together, the two companies will deliver an end-to-end marketing software solution. The agreement aims to expand BrandMaker’s portfolio and support network. According to BrandMaker, BrandMaker and Allocadia serve more than 300,000 global users combined and employ a team of more than 300 in seven countries.
Pluribus acquires POWR to target the SME market
Pluribus Technologies of Toronto has completed the acquisition of POWR, a San Francisco-based software company that offers tools and applications that help small businesses increase their online presence. Terms of the deal were not disclosed.
Founded in 2018, Pluribus focuses on acquiring and consolidating small profitable business-to-business (B2B) software companies. POWR is the first acquisition of Pluribus in the field of electronic commerce. The Toronto-based firm said the POWR deal allows it to target the small and medium-sized business (SME) market. In May, Pluribus acquired ICOM Productions.
Feature image of Paymi via Glassdoor