Mediagrif Interactive Technologies Inc. (TSX: MDF) has agreed to acquire substantially all of the assets of Orckestra Inc., a provider of digital unified and omnichannel commerce solutions for the retail and manufacturing industry. The transaction is expected to close on or about June 23, 2017.
Founded in 2006, Orckestra Inc. has raised $20 million in Series A and B rounds of financing from Fondaction CSN, Fonds de solidarité FTQ, W Investments.
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Vincent Trepanier, Louis Fournier, President of Orckestra, and Fondaction are the three largest shareholders.
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“We are happy to welcome and unite the Orckestra team within Mediagrif. This acquisition represents a unique opportunity for Mediagrif to gain footprint in the rapidly growing digital retail sector,” said Claude Roy, President and CEO of Mediagrif.
“We are particularly happy to see our company join forces with a well-established Canadian public company. Our unique technology serves some of the largest and most innovative retailers and this acquisition will allow us to expand our footprint and pave the road for the years ahead for our customers and partners. This deal will also keep jobs and management here in Quebec, which is a testimonial to the vibrant technology ecosystem we are evolving in,” said Louis Fournier, President of Orckestra.
photo credit: Orckestra