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Cross Border Activity - February 2009

Posted in Cross Border Activity

February was a very quiet month in terms of cross-border activity.  There were two US-based venture capital firms injecting capital into Canadian technology companies.  However, both of these VCs were making follow-on investments into existing portfolio companies as opposed to identifying new investment targets north of the border.  There was only one non-public cross-border M&A transaction – it involved a strategic acquisition in the technology space.

 

Details of February’s cross border deals are listed below.

 

 

U.S. Activity in Canada

 

Zon Capital Partners (NJ) participated in a financing for Montreal’s Mircobridge Technologies.  Microbridge manufactures and licenses passive precision calibration products and solutions for the consumer, automotive and medical industries.  The financial details of the transaction were not reported.

 

JK&B Capital of Chicago contributed to a $6.2 million raise by TenXc Wireless, an Ottawa-based supplier of antenna products for wireless mobility networks.  OSC documents reported that there were seven investors in the transaction who participated through preferred shares.

 

Cross Border M&A

 

Radialpoint, a Montreal-based provider of managed internet security to ISPs, acquired HiWired Inc, a service provider to the ISP industry operating out of Massachusetts.