The Dubai-headquartered firm claimed the deal is a “nine-figure acquisition.” Ahoy also announced it is making Montreal its North American base, partnering with AI institute Mila and opening a new lab there focused on physical AI. (The Logic)

Talking point: Founded in 2018, Ahoy combines sensors, computing hardware, AI models and agents to help clients in aviation, utilities, telecom and municipal government analyze their data and optimize their operations. The firm claims to be profitable, and to be making more than US$100 million in annual recurring revenue. Ahoy did not respond to The Logic’s questions about its funding and the deal for Wrk. Ahoy’s new Montreal lab will focus on physical AI, the control and reasoning systems that power automation in the real world via robots and self-driving cars. Wrk had raised US$54 million, according to PitchBook data, from backers like Garage Capital, OMERS Ventures and Real Ventures. The startup’s technology automated tasks like software testing, telemarketing and invoicing, a market made extremely competitive by the emergence of generative AI assistants.