As expected given the time of year, August was a slow month for IT exits in Canada with 5 deals closed (3 last month). However, an additional 5 deals were announced in the month (but not closed yet) including BCE’s purchase of Q9 Networks for $ 491M USD. So, perhaps that’s a good sign as we all get back to work.
Here are the highlights for the closed deals last month:
- 5 deals closed (3 last month)
- 1 of the deals had a disclosed value ($ 13.2M).
- The companies were across Canada: Halifax, Saint Lazare, Toronto, Edmonton and Vancouver
- None of the companies were VC-backed (3rd month in a row for this)
- 3 buyers were Canadian, 2 were from the US
- 2 of the buyers were public
- Median time to exit: 10.5 years (19 years for last months’ deals)
- Shortest time to exit: 6 years
- Longest time to exit: 14 years
- All of the buyers were strategic.
As always, I report on these each month. If you’re interested in seeing the underlying data, I keep it here.