The Tokyo-based tech conglomerate lost US$23.5 billion in the three months ended June 30, after losing nearly US$16.5 billion in the previous quarter. Its startup-investment arms, Vision Funds 1 and 2, suffered a US$21.7-billion loss, which dragged down its results. (The Logic)
The search giant’s new complaint in the U.S. District Court for Northern California alleges Sonos’s voice-command features, which allow users to better control music when moving from room to room, infringe on its patents. (The Logic)
The Burnaby, B.C.-based quantum-computing company listed via a deal with DPCM Capital, a special-purpose acquisition company (SPAC). The stock opened at US$8.98 and was up more than 27 per cent in Monday trading. (The Logic)
The Toronto-based proptech firm said the deal closed in late July and was led by its existing investors, including Parker89 and Bain Capital. (The Logic)
The Waterloo, Ont.-based firm’s cloud services businesses drove growth, with revenue of nearly US$1.54 billion in the 12 months ended June 30, up nine per cent year over year. (The Logic)
OneSoccer began as a streaming service but seeks to extend its reach by getting its live coverage on major cable systems. In a filing with the Canadian Radio-television and Telecommunications Commission, it alleged Rogers is refusing to carry it because it competes with the Rogers-owned Sportsnet channels—and sometimes outperforms them, as when the Canadian men’s team was pushing to qualify for the World Cup. If Rogers concludes its buyout of Shaw, whose cable component the CRTC has already approved, the lack of competition will be even worse, OneSoccer asserted. (The Globe and Mail)
The Quebec electric-van and -bus maker posted a $37.5-million profit, up from a loss of $178.5 million in its second quarter of 2021. It delivered 105 vehicles, compared with 61 in the same period last year. (The Logic)
Power Corp subsidiary IGM Financial cut the value of its stake in the Toronto-based fintech company from $925 million at the end of March to $492 million as of June 30. Wealthsimple’s growth has also slowed. Its clientele, excluding those using its tax services, grew just two per cent in the second quarter, compared to nearly 20 per cent for the same period last year. It’s the second quarter in a row that IGM has written down the asset. (The Logic)
The tech giant said it has entered into a definitive agreement with iRobot to acquire the company for US$61 per share. (The Logic)
The Ottawa-based satellite company reported a net loss of nearly $4.4 million in its second quarter, after booking a $53-million profit in the same quarter in 2021. Revenue was down but so were expenses, producing stronger operating income—more than $77 million in the quarter. But Telesat lost nearly $99 million due to currency exchange rates (particularly a stronger U.S. dollar), after recording nearly $41 million in foreign-exchange benefits in the second quarter of 2021. (The Logic)