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LX Ventures to Acquire Sosido Networks

LX Ventures announced this week that it has signed a term sheet for the acquisition of Sosido Networks for stock consideration of approximately $292K. Based in Vancouver, Sosido is an online knowledge exchange network for professional healthcare associations.

Descartes Acquires PE-Backed KSD Software for $33M

Waterloo, Ontario-based Descartes Systems Group, a provider of on-demand, software-as-a-service solutions to businesses, has acquired KSD Software AS, an Oslo, Norway-based company focused on electronic customs filing solutions for the European Union. The purchase price was US$33 million. Previously backed by Scandinavian private equity firm Eqvitec Partners, KSD was acquired in 2011 in a direct secondary transaction by Verdane Capital.

Extreme Startups Picks New Companies for Accelerator - Report

Toronto start-up accelerator Extreme Startups has selected five companies for its third cohort, reports FinSMEs. They are: BRIKA, an online shopping destination for crafted lifestyle products; Instaradio, a platform to broadcast a live audio stream; Køge, a subscription service for vitamin packages; Polychart, a business intelligence tool for SMEs; and; Sciencescape, a platform to discovering scientific research. Each company will receive $50,000 initially and up to $150,000 upon completion of the program from BDC Venture Capital.