Procurement ombud Alexander Jeglic said the system lacks accountability and is too complex, often boxing Canadian firms out of the bidding process while awarding repeat contracts to bad performers. (The Logic)
Anita Anand’s visit this week is expected to help pave the way for a new trade deal with the Association of South East Asian Nations, or ASEAN, this year. (The Canadian Press)
Toronto-based VitalHub, which makes software for health-care companies, will pay up to an additional $5 million in cash if Kingston, Ont.-based Novari meets certain performance requirements over the next two years. VitalHub paid $35.8 million in cash at closing, with the remainder paid in shares. (The Logic)
The bilateral accords would give Canadian companies access to the EU’s €150-billion ($240-billion) loan fund for defence production and let Canada participate in common defence procurement with EU members. (Bloomberg)
The San Francisco-based firm has hired more cybersecurity staff, increased screening of employees and restricted internal access to its algorithms and in-development products, sources told the Financial Times. (Financial Times)
Bahir Manios and David Levenson both worked at the asset management giant for two decades before leaving to start Genesis Financial. The new Toronto-based firm is focused on investments of up to $1 billion in health care, infrastructure, financial services and insurance. (Bloomberg)
The legal software firm’s second-largest investor, Plantro, has called for a special meeting to vote on its three board nominees to replace existing members, including chair Arnaud Ajdler. Plantro is controlled by former Dye & Durham CEO Matthew Proud and owns 11 per cent of the company. (The Logic)
In a memorandum of understanding, Alberta Premier Danielle Smith and Ontario Premier Doug Ford agreed that the two provinces share a “common goal” on energy security, and said they would seek to “reduce global energy dependence on foreign actors” by building pipelines and other infrastructure. (The Logic)
The embattled electric-vehicle company reportedly told former employees in a question-and-answer session that the price, which was far below the Quebec company’s peak valuation of nearly $4.7 billion, was considered a liquidation that valued the inventory only for parts. (La Presse)
In a LinkedIn post, Phil De Luna said he was moving on from the direct-air capture company co-founded by Hopper CEO Frederic Lalonde. De Luna, who joined Deep Sky in 2023, also served as its chief commercial officer. (The Logic)