Q-News

May 2011

M&A News - April 2011

Posted in M&A News

April was not the busiest month on the M&A front, with only five private M&A transactions reported, but any time that two Canadian technology startups get scooped up by RIM and Google it gives Canada’s tech entrepreneurs some reason for optimism.  Meanwhile, another technology company that was founded in Canada but has since moved its headquarters and sales operations to the United States, was acquired by BMC Software.  The remaining two deals this month involved Ontario-based manufacturers being acquired by private equity firms. 

Canadian M&A Transactions

RIM (TSX: RIM) acquired Tungle, a Montreal company whose web-based scheduling service allows users to set up meetings with other parties by synchronizing across Outlook, Google Calendar, Apple iCal, Entourage for Mac, and Lotus Notes.  Tungle’s investors include Commonwealth Capital Ventures (MA), JLA Ventures and Desjardins Venture Capital.

Lynx Equity Limited of Ontario, a subsidiary of Succession Capital Corporation, came out with the announcement that it had acquired Peterborough-based Techni-Lite Systems in a transaction that closed back in March.  Techni-Lite manufactures fluorescent and LED-based lighting systems for signage manufacturers

Cross Border M&A

Toronto’s PushLife achieved what so many tech companies set out to accomplish when it was acquired by Google.  PushLife developed technologies that make it possible for Blackberry and Android phone users to buy, play, and organize music in a similar fashion to Apple iPhone users accessing the iPod app.  Some sources are reporting that PushLife, which was just founded in 2008, was acquired for $25 million.

Coradiant, a company that was started in Montreal before moving its headquarters to California, was acquired by Texas-based BMC Software (NASDAQ: BMC).  Coradiant still conducts its research and development efforts in Montreal.  BMC will integrate the web application performance monitoring capabilities that Coradiant has developed over the years into its own offering.  BMC provides its clients with business service management software that facilitates oversight over IT service management and data center automation. Coradiant was backed by US-based DCM (CA), GrandBanks Capital (MA), Mesirow Financial Private Equity (IL), and Miramar Venture Partners (CA), as well as Canada’s Desjardins Venture Capital and BDR Capital.

Illinois-based Industrial Opportunity Partners acquired a stake in Roadtrek Motorhomes, an Ontario manufacturer of motorhomes and camper vans.

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