Jan 25, 2021

TODAY IN ACQUISITIONS: WISHPOND, IN FIDEM, TIER1, SCREENSCAPE, KAYAN HEALTH, PAPER LEAF Wishpond Technologies looks to acquire PersistIQ Vancouver-based Wishpond Technologies, which offers a digital marketing platform targeted to entrepreneurs, has signed a letter of intent to acquire San Mateo, Calif.-based SaaS startup PersistIQ. The acquisition of PersistIQ is hoped to expand Wishpond’s sales automation and communication capabilities. If the deal closes, Wishpond expects the purchase price to total approximately $3 million USD, consisting of equal parts cash, common shares, a one-year earn-out based on PersistIQ’s revenue. A spokesperson for Wishpond told BetaKit the deal is expected to close “in the coming weeks,” but declined to disclose further details on the transaction. PersistIQ offers sales engagement technologies to empower salespeople and entrepreneurs. The acquisition of PersistIQ is hoped to expand Wishpond’s sales automation and communication capabilities. Wishpond offers an “all-in-one” marketing suite that provides companies with marketing, promotion, lead generation and sales conversion capabilities from one integrated platform. The startup’s goal is to replace a number of marketing functions for a fraction of the cost of other software providers. Montréal-based In Fidem acquired by Atos Montréal-based cybersecurity consulting firm In Fidem has been acquired by Paris-based digital transformation company Atos. The companies did not disclose the purchase price of the deal. Founded in 2005, In Fidem specializes in information security management. The company offers consulting services for governance and corporate strategies, risk management and compliance, network security, performance measurement, and training. The acquisition is aimed to expand Atos’ client portfolio and expertise in cybersecurity services. Toronto-based Tier1 Financial Solutions acquires Alessa Toronto-based Tier1 Financial Solutions, which offers customer relationship management solutions for the capital market and investment banking industries, has acquired another Toronto-based firm, Alessa, which has developed a compliance and financial crime prevention solution. Following the deal, Alessa will become part of the Tier1 branded product suite. The financial terms of the transaction were not disclosed. Following the deal, Alessa will become part of the Tier1-branded product suite. Andrew Simpson will remain as chief operating officer of Alessa, reporting to Jiro Okochi who assumed the CEO role of Tier1 Financial Solutions on January 1. Acquiring Alessa’s compliance solution is aimed to increase Tier1’s operational efficiency and reduce regulatory compliance risk. ScreenScape Networks acquired by Spectrio ScreenScape Networks, a Charlottetown-based startup offering tech solutions for video displays, has been acquired by Florida-based Spectrio. The financial terms of the deal were not disclosed. According to a report from  Entrevestor , ScreenScape’s 25-person team will remain at the company and will continue to be based on Prince Edward Island. ScreenScape develops digital signage aimed to be flexible and cost-effective for users. The ScreenScape content management system includes an online media manager that connects with Google Drive, Dropbox, Facebook, Instagram, and more. The startup also offers a media editor that allows customers to use fully-designed templates or build their own digital content from scratch. Beyond Medical Technologies set to acquire Kayan Health Toronto-based Kayan Health has entered into a letter of intent to be acquired by Delta, British Columbia-based Beyond Medical. The deal, which has yet to close, would see Beyond Medical acquire all common shares of Kayan Health in exchange for $6 million of common shares in Beyond Medical. Beyond Medical will provide Kayan Health with working capital of $100,000 per month, to a maximum of $400,000, until the parties have completed a definitive agreement. Kal Malhi, chairman of Beyond Medical, told BetaKit the working capital will be used by Kayan Health to “pursue other business opportunities” while the companies work on the definitive agreement. Kayan Health’s AI-powered health communications platform is designed to help doctors streamline communications with their patients and remotely monitor them. Kayan Health’s platform has been deployed in multiple clinics in the United States and is projected to reach $5 million in revenue by 2022, according to a statement from Beyond Medical. Beyond Medical is an industrial technology company with a manufacturing facility. By acquiring Kayan Health, Beyond Medical said it will allow the BC-based company to deliver a “one-stop solution” to the medical industry. ZGM Modern Marketing Partners acquires Edmonton-based Paper Leaf Alberta-based ZGM Modern Marketing Partners has acquired Paper Leaf, a web and mobile app company based in Edmonton. The financial terms of the deal were not disclosed. Paper Leaf develops various applications for clients including Elections Alberta, the Edmonton International Airport, Canadian Automobile Association, and the Canadian Mental Health Association. Paper Leaf and its 20 employees will continue to operate separately from ZGM. The company will also retain its brand and name and will continue to focus on app development. The ownership change will not affect any process or ongoing work with its existing clients. The deal is hoped to give marketing and communications company ZGM the ability to offer digital solutions. Image source  Unsplash . Photo by Annie Spratt. Original article on Betakit by Isabelle Kirkwood, January 22, 2021