EZShield Inc, an identity theft and fraud protection services company, has been acquired by the Wicks Group of Companies, a U.S. private equity firm. The terms of the March deal were not released. EZShield, based in Baltimore, Maryland, was sold by Canadian private equity firm Edgestone Capital Partners. Edgestone acquired the business in 2007 when it was a division of Custom Direct Inc. It was spun out with Custom Direct's sale in 2010. EZShield is Edgestone's second recent exit. Earlier this week, Canadian life reinsurance company Aurigen Capital Ltd, backed by Edgestone since 2007, was sold to PartnerRe Ltd.
3 min read · 05 April 2017
Toronto financial technology company Street Contxt has closed a follow-on round that brings its total funding so far to about $20 million (US$15 million). The latest round was led by Joe Lonsdale's 8VC and Point72 Ventures. Other investors, including Palm Drive Capital and Power Corp's Portag3 Ventures, which announced an investment in Street Contxt earlier in 2017, also participated. Founded in 2012 by CEO Blair Livingston, Street Contxt helps brokerages, analysts and asset managers distribute, manage, unbundle and value research. It will use the funds raised to develop its buy-side offering, currently live in private beta, with a launch scheduled for mid-2017.
4 min read · 05 April 2017
Montréal advanced materials sciences startup Anomera Inc has raised about $1.7 million (US$1.25 million) in the first tranche of a seed-stage financing. The investors were not disclosed. Anomera, a McGill University spin-out, converts forest industry pulp and wood waste into bio-products used in the cosmetics and skin care markets. The company plans to use the funds raised to recruit additional talent and to accelerate product development and manufacturing scale-up of its ingredients. Anomera was supported in its early development by the incubation services of Montréal's CEIM and Mississauga, Ontario's RIC Centre.
3 min read · 05 April 2017
Calabrio Inc, a U.S. customer engagement software company, has bought Symmetrics Inc, a Canadian provider of business intelligence solutions that link contact centre systems with corporate data. No financial terms were released. With the acquisition, Calabrio will establish a centre of excellence for customer and employee engagement in Vancouver. It will be headed by Richard McElroy, the former president and COO of Symmetrics. Based in Minneapolis, Minnesota, Calabrio was acquired in 2016 by the technology group of U.S. private equity firm Kohlberg Kravis Roberts & Co.
3 min read · 04 April 2017
Fix Auto World, a Canadian aftermarket services network, has agreed to acquire the assets of 11 glass and automotive aftermarket companies formerly owned by the Skidmore Group. No financial terms were disclosed for the deal, which includes a third investment by Caisse de dépôt et placement du Québec. The Caisse has since 2015 backed various growth initiatives of Montréal-based Fix Auto. The latest will expand its service offering and grow its network to more than 2,000 franchise, retail, repair, affiliate, distribution and manufacturing locations worldwide. The deal is expected to close this month.
4 min read · 04 April 2017
Infiniti Lab, the technology accelerator program of Asian car manufacturer Infiniti Motor Co Ltd, announced its launch in Toronto. The program, which will be produced locally in partnership with Multiplicity, will support pre-seed Toronto startups operating in the Internet of Things and smart city innovation sectors. With the program's formal launch in May, a select number of startups will work with corporate and industry partners, including OMERS Ventures, Telus Ventures and Techstars. The Toronto-based expansion is Infiniti Lab's first international launch.
4 min read · 04 April 2017
PartnerRe Ltd has closed its acquisition of Aurigen Capital Ltd, a Canadian life reinsurance company. The cash deal, announced in October 2016, was valued at $375 million. Bermuda’s PartnerRe, a multi-line reinsurer, said Aurigen's management and employees will join its existing life and health segment as a newly-formed business unit called North America Life. Based in Toronto, Aurigen was launched in 2007 with a $500 million equity investment from a private equity consortium consisting of Edgestone Capital Partners, Bregal Capital, Pine Brook Partners and Soros Strategic Partners.
2 min read · 04 April 2017
Canadian life sciences venture capital firm Lumira Capital announced several investment team promotions and hires. They included the promotion of Dr. Jacki Jenuth, a 16-year veteran of the firm, to partner. Dr. Richard Glickman, chairman and CEO of Aurinia Pharmaceuticals Inc (Nasdaq: AUPH, TSX: AUP), a Lumira portfolio company, was also brought on as a partner. Additionally, Lumira promoted Dr. Lu Han to director, business development Asia Pacific, and hired Baye Galligan as an analyst. Lumira this week won a commitment for Lumira Capital IV from BC Tech Fund.
4 min read · 04 April 2017
BC Tech Fund has made an undisclosed commitment to Lumira Capital IV, the fourth healthcare and life sciences fund of Canadian venture capital firm Lumira Capital. Dr. Richard Glickman, chairman and CEO of Victoria, British Columbia-based Aurinia Pharmaceuticals Inc (Nasdaq: AUPH, TSX: AUP), a Lumira portfolio company, was concurrently named a partner at the firm. Earlier this week, Vancouver's Zymeworks Inc, another Lumira portfolio company, filed to go public. Capitalized at $100 million, BC Tech Fund was launched last year under the management of Kensington Capital Partners.
4 min read · 04 April 2017
OMERS Private Equity (OPE) has agreed to acquire Inmar Inc, a Winston-Salem, North Carolina operator of intelligent commerce networks. No financial terms were disclosed for the deal, which will see OPE buy a majority interest in Inmar from U.S. private equity firm ABRY Partners, the company's backer since 2014. With the acquisition's close, expected in the second quarter, ABRY will remain an Inmar shareholder. Founded in 1980, Inmar connects offline and online transactions for retailers, manufacturers and trading partners in multiple industries. OPE said it will support the company's continued growth both organically and through acquisitions.
4 min read · 04 April 2017
