The Waterloo-based firm will incorporate Comae’s IP, which focuses on memory analysis to recover digital evidence, into its own digital investigation tools. Comae founder Matt Suiche will join Magnet as memory analysis lead. Magnet did not disclose the value of the acquisition. (The Logic)
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The Waterloo-based firm will incorporate Comae’s IP, which focuses on memory analysis to recover digital evidence, into its own digital investigation tools. Comae founder Matt Suiche will join Magnet as memory analysis lead. Magnet did not disclose the value of the acquisition. (The Logic)
Talking point: This is Magnet’s second acquisition since going public on the TSX a year ago. The company also posted its first-quarter financial results on Thursday, reporting a 35 per cent revenue increase and a $900,000 loss, down from $2.8 million in net income for the same period last year. It attributed the drop in part to more R&D spending and acquisitions. The company’s annual recurring revenue jumped 49 per cent to $66 million. Magnet has been a standout among recently-listed Canadian companies, the majority of which have been trading well below their IPO price. Its stock dropped about 4.4 per cent on Thursday to at $23.35.
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