Neither company disclosed terms of the deal. Eclipse will be folded into Accenture’s Industry X engineering and manufacturing division. About 530 of Eclipse’s 800 employees are based in Canada. (The Logic)
U.S. social media companies lost about US$80 billion in stock-market value after Snap’s and Twitter’s quarterly revenue figures prompted analyst concern about future online-ad revenues. (Bloomberg)
Orida starts in September, taking over the top job at the Public Sector Pension Investment Board from Neil Cunningham, who announced his retirement in February. She leaves Canada Pension Plan Investment Board after 13 years, where she was most recently the pension fund manager’s inaugural chief sustainability officer. (The Logic)
The 3 Canadian Space Division’s assignment is to “streamline, focus, and improve how space-based capabilities support critical [military] requirements such as communications, command and control, navigation, weather and situational awareness,” said the announcement from the Department of National Defence. (The Logic)
The Menlo Park, Calif.-headquartered financier, which also goes by a16z, “is now virtual, but can materialize physically on command,” co-founder Ben Horowitz wrote in a blog post announcing the move. (The Logic)
The Toronto-based firm said its almost one-tonne vehicle, FluxJet, will be able to travel at over 1,000 kilometres per hour in a protected guideway through a combination of magnetic technology and contactless electric power. At a Toronto event featuring a static, one-quarter scale model of the vehicle, executives said a full-sized testing model will be ready by 2025, with the aim to have one fully operating at the Edmonton airport later. (The Logic)
New CTO Ron McKenzie had been president of the Rogers for Business unit for just over a year, after previously being the telco’s senior vice-president for technical operations. He replaces Jorge Fernandes, who’d had the job since February 2018. In an email, Rogers spokesperson Nilani Logeswaran said the change is immediate but did not answer questions about whether he resigned or was fired, or precisely what triggered the move. (The Logic)
Shopify executives and lobbyists from Invariant, a government affairs firm the company retained in April, discussed “the use of digital assets and blockchain technology” with officials during the second quarter, according to new filings. Shopify also lobbied on carbon removal, tech antitrust legislation and rules proposed to stop the sale of counterfeit goods online. The firm did not respond to The Logic’s request for comment. (The Logic)
The ride-hailing company must pay a fine of more than 8 billion yuan for violating cybersecurity, data-security and personal-information protection laws. Didi CEO Cheng Wei and the firm’s president, Liu Qing, will each be charged 1 million yuan. (The Logic)
The social-media platform will now offer two feeds for each profile—a traditional-looking one showing posts from the user’s friends, groups and followed pages in chronological order; and another where an algorithm feeds them content, said Meta CEO Mark Zuckerberg in a post. (The Logic)