The Massachusetts-based software firm will keep Mnubo’s staff of about 60 in Montreal and build a research and development centre around them. (The Logic)
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The Massachusetts-based software firm will keep Mnubo’s staff of about 60 in Montreal and build a research and development centre around them. (The Logic)
Talking point: Mnubo analyzes data from industrial machines to help make its clients—which include large air-conditioner-makers Hitachi and Johnson Controls—leverage data to save money. It’s a massive marketplace, expected to grow 15.6 per cent this year and hit US$1 trillion by 2022. Foreign firms have bought a number of other Canadian Internet-of-Things companies in recent years. Those deals include Calgary-based Pure Technologies’ $509-million sale to Xylem in 2018, and Vancouver-based Bit Stew Systems’ sale to General Electric in 2016 for about $200 million. Aspen Technologies, in particular, likes picking up Canadian firms. In December 2017, it purchased New Brunswick-based RtTech Software.
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