Mediagrif acquires venture-backed Orckestra for $2.2M

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By Ted Liu

On June 23, 2017, Mediagrif Interactive Technologies Inc. (TSX: MDF) closed acquisition of substantially all of the assets of Orckestra Inc., a provider of digital unified and omnichannel commerce solutions for the retail and manufacturing industry. Financial terms were not disclosed at the time.

Mediagrif Interactive Technologies has now disclosed that it paid $1.6 million net of acquired cash, plus assumption of certain liabilities of approximately $600,000.

Orckestra had raised $20 million in Series A and B rounds of financing from Fondaction CSN, Fonds de solidarité FTQ, W Investments, with Fondaction being the third largest shareholders behind two-founders, Vincent Trepanier and Louis Fournier.

photo credit: Orckestra