The Canada Pension Plan Investment Board’s 70-billion-rupee buy includes $588 million for a 8.2 per cent equity stake in the Hyderabad-based company, plus $441 million for 48 per cent of a new joint venture to build new AI infrastructure. (The Logic)
Ireland’s Jazz is to pay AbCellera US$84 million for early research on the three antibody-based treatments for gastrointestinal cancers and other solid tumours, the Vancouver pharmaceutical company announced. Each drug, if it succeeds, could yield further payments for AbCellera of up to $792 million, plus royalties. (The Logic)
Major defence procurements are supposed to get the Canadian Armed Forces the right gear quickly while yielding domestic work and goods sales, but there’s no system for weighing those priorities, the federal procurement ombudsman found in a newly released report. (The Logic)
Ontario Superior Court of Justice judge Robert F. Goldstein sentenced Stephan Katmarian to six months in jail followed by 18 months of probation after he sold investors notes in a never-launched digital asset called Peblik Token, which he falsely said was backed by ownership in a Northern Ontario mine. Katmarian is appealing his conviction. (The Logic)
The Public Sector Pension Investment Board (PSP) invested more than $10 billion in Canadian assets over the 12 months ending March 31. The pension fund manager’s overall returns fell short of its one-year benchmark target of 13.1 per cent. (The Logic)
Domestic firms produce cybersecurity software and gear that’s strong enough to guard sensitive data—like personal information held by banks—but not for state secrets, said Bridget Walshe, associate head of the Canadian Centre for Cyber Security. Through the new defence industrial strategy, the agency wants to work with Canadian companies to take that next big step, Walshe said in a speech at a global conference on post-quantum cryptography in Ottawa. (The Logic)
At a downtown Toronto event hosted by Bloomberg Tuesday, David McKay said the lender is engaged in a “very active” market for bank loans to data centres. Demand is high and “we have capacity” to lend even more, he said. (The Logic)
The Orion devices at the centre of the $10-million-plus sale are to deliver 5G connections for Polish military units in the field. Marconi is working with Polish defence integrator Enamor on the project, which is to deliver the radios over several years. (The Logic)
Finance Minister François-Philippe Champagne told an audience of bankers at the Toronto Stock Exchange Monday that listing on public markets needs to be “seamless and accessible” because many entrepreneurs don’t see a path to raise capital there. (The Logic)
The Montreal payments firm is paying cash to buy all of Payoneer’s shares. In a release, Nuvei said the acquisition will help it offer payment services around the world, citing New York-based Payoneer’s regulatory licences in China, India and elsewhere as “a key component” of its plan. (The Logic)