Q-News
June 2010
Posted in M&A News
There were 11 private M&A transactions reported this
month. Seven of these deals involved a
target companies headquartered in Ontario. Six of the Ontario targets are in the tech space, with
the seventh being a developer of next generation imaging technology for the
medical sector. Five of these companies
were sold to foreign acquirers. There
were three other Canadian companies acquired this month and they were all sold
to foreign buyers; two are in the technology space while the third is another
Canadian company developing visualization technology for the health care
sector. Only one of the nine
cross-border transactions involved a Canadian target as opposed to a Canadian
buyer.
Canadian M&A
transactions:
Toronto’s Boardsuite, which has
developed a SaaS tool that helps companies manage real-time access to corporate
documents, acquired Toronto-based InWeb Media. The online services
offered by InWeb Media, which
include web design/development, presentation support, and email marketing
campaigns, will supplement Boardsuite’s portal-based offering to its corporate
clients.
Toronto-based Cyberplex (TSX:CX), whose technology
and service offering allows clients to reach their target market through digital
and social media, has acquired Tsavo Media, a Waterloo-based online
publisher that owns a portfolio of consumer informational websites, in a
transaction valued at $75 Million.
Cross Border
M&A:
Toronto-based Granite
Global Solutions switched private equity owners as San Francisco-based Genstar
Capital LLC acquired the company from Toronto’s Granite Partners. Granite
Global Solutions provides risk mitigation services to Canadian corporate,
legal, government and insurance clients through a number of operational
entities that include McLarens Canada, Sibley & Associates, King
Reed & Associates, Henderson Structured Settlements, and Rochon
Engineering.
M/C Venture Partners (MA) has agreed to sell
Mississauga-based Fusepoint, which provides IT hosting
services, to Missouri-based Savvis (NASDAQ: SWS), a global player in
the cloud infrastructure space. The
company was sold for $124.5 million – which equates to roughly 2.6 times the
annualized first quarter revenue.
New Brunswick’s TSi Auto Solutions,
a provider of business management software to automotive dealerships, refined
its core offering and expanded its customer base by acquiring
Pennsylvania-based AutoSoft. The terms of the deal
were not disclosed.
Sweden’s Elekta (FRA: EJXB), a developer
of instruments and treatment systems for radio therapy and radio surgery, acquired
Montreal’s Resonant
Medical, which develops 3D soft tissue visualization systems. The deal
marks an exit for Resonant’s VC backers, which include MDS Health Ventures, iNovia
Capital, MMV Financial, BDC Venture Capital, Ventures
West Management, Desjardins Venture Capital, GrowthWorks,
and Lumira Capital. The all-cash
transaction values Resonant at $30 million and allows Elekta to integrate soft tissue visualization
technology into its products.
Allied Motion Technologies (NASDAQ: AMOT), a Colorado-based designer
and developer of motion control technologies, acquired Agile Systems, a
Waterloo-based company in the same
space. Agile is backed by Expansion
Capital Partners (NY), RBC Capital Partners, Covington Capital, and Roynat Capital.
Triton Digital Media, a California-based company that
provides technology and services to the media industry, acquired Montreal-based StreamTheWorld,
developer of a streaming technology for radio and television broadcasters. The terms of the transaction were not
disclosed.
Twitter, the micro-blogging giant based out of San
Francisco, acquired Vancouver’s Smallthought
Systems, whose products include Dabble DB, a Saas-based application that allows
users to create database applications using a web browser, and Trendly,
another SaaS offering that makes it easier for users to pull key information
out of Google Analytics.
Connecticut-based Global Equity Capital sold its
stake in Sound Design Technologies (“SDT”)
to ON
Semiconductor (NASDAQ: ONNN), an Arizona-based semiconductor
manufacturer focused on green electronics.
Burlington-based SDT designs and manufactures energy efficient
semiconductors used in hearing aids and other small electronics devices. The transaction valued SDT at approximately
$32 million. As part of the deal, $22
million is guaranteed while the remaining $10 million will be pending on an
earn-out schedule.
SonoSite, based in Bothell,
Washington, which specializes in
manufacturing and marketing hand-carried and mounted ultrasound devices,
acquired Toronto-based VisualSonics, in order to add the
target company’s revolutionary next generation ultrasound micro imaging
technology to its product mix. VisualSonics’
founder developed the technology while working at the Sunnybrook Health
Sciences Centre, and brought it one step closer to commercialization through an
investment from Toronto-based Hargan
Ventures.
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