Twenty-seven Mentor Works staff will join Ryan as part of the acquisition. Mentor Works specializes in securing government funding and grants for Canadian businesses. Ryan declined to disclose terms of the deal. (The Logic)

Talking point: Onex is one of Dallas, Texas-based Ryan’s backers. The Canadian investment firm acquired a 42 per cent stake in Ryan for US$317 million in 2018. The deal valued the company at US$1.1 billion. Ryan said its acquisition of Mentor Works will expand and further strengthen its government funding and grants practice for clients with Canadian operations. Mentor Works’ founder, Bernadeen McLeod, will lead Ryan’s government-grants practice. While the acquisition is another example of a U.S. company buying a Canadian tech startup, the trend appears to be reversing. As my colleague Martin wrote, Canadian tech companies are eyeing M&A across the border thanks to the Biden administration’s policies, a wave of enormous fundraising rounds and low interest rates.