AI & Machine Learning Acquisitions in Canada

CM Labs Simulations announced it has acquired AI Redefined (AIR), a Montreal-based company focused on real-time human-AI collaboration. The deal expands CM Labs’ simulation-based training capabilities by bringing in AIR’s Cogment platform for designing, training, and deploying human-and-AI agent systems used in training and learning environments.

AI/ML Innovations Inc. entered into a share purchase agreement dated December 9, 2024 to acquire all issued and outstanding shares of Quantum Sciences Ltd. The transaction values Quantum at $690,000, to be paid via 10,000,000 AI/ML Innovations common shares, and is subject to Canadian Securities Exchange approval and customary closing conditions. Quantum designs digital healthcare solutions using artificial intelligence, machine learning, and quantum-inspired methodologies.

Accenture, through Accenture Ventures, made a strategic investment in Sanctuary AI, a Vancouver-based developer of AI-powered, general-purpose humanoid robots. The investment is intended to help bring Sanctuary AI’s Phoenix humanoid robot and Carbon AI control system into work environments alongside human workers across industries such as logistics, manufacturing, and retail.

Apple has acquired DarwinAI, an artificial intelligence startup focused on making AI systems smaller and faster, according to a Bloomberg report. Following the acquisition earlier this year, Apple added dozens of DarwinAI employees to its AI team, with the technology expected to support Apple’s push to run AI on devices for upcoming iOS 18 features.

GeologicAI announced the acquisition of Resource Modeling Solutions (RMS) to expand its mining technology offerings and strengthen end-to-end solutions for resource discovery and development. RMS adds advanced geostatistical subsurface deposit modeling capabilities and technical talent that complement GeologicAI’s AI-driven exploration and extraction technology.

SandboxAQ announced it has acquired Good Chemistry, a Vancouver-based computational chemistry company, to expand SandboxAQ’s AI simulation capabilities for drug discovery and materials design. The deal adds Good Chemistry’s software products (QEMIST Cloud and Tangelo), talent, and customer/partner relationships; financial terms were not disclosed. Good Chemistry’s existing backers, including Green Sands Equity and others, will join the SandboxAQ investor base as part of the transaction.

MAI Cloud Solutions Inc., a wholly owned subsidiary of Generative AI Solutions Corp. (GenAI), entered into a share purchase agreement to acquire 100% of Pulse AI Compute Solutions Inc. from Minework Technologies Pte Ltd. The base purchase price is $1.5 million, to be paid in GenAI common shares, with additional earn-out style payments in GenAI shares tied to customer agreements and post-closing committed revenue (up to $4.5 million).

PartnerHero, a customer operations outsourcing provider, acquired Summatti for an undisclosed amount. Summatti is an AI-powered conversation analytics (conversation intelligence) platform for customer experience teams, and its founders Sid Bhambhani and Rashmi Bhambhani will join PartnerHero full-time. The deal supports PartnerHero’s plan to build an omnichannel CX operations platform by adding conversation analytics and real-time insights capabilities.

Velodyne Lidar, Inc. announced it has acquired Bluecity, a Montreal-based artificial intelligence software company focused on lidar-based solutions for safety, traffic, and infrastructure applications. The transaction was completed as an all-stock acquisition, and Bluecity’s executive, software development, and sales teams will join Velodyne.

Hawke Media acquired Canadian AI company Morphio to support the launch of hawke.ai, an automated marketing strategy and insights tool. The deal expands Hawke Media’s marketing technology capabilities by integrating Morphio’s AI digital assistant platform for marketers into Hawke’s data-driven services offering.

Glia has acquired Finn AI, an AI-powered chatbot and virtual assistant platform for banks and credit unions. The acquisition integrates Finn AI’s conversational AI capabilities into Glia’s Digital Customer Service platform to provide turnkey banking virtual assistants at scale. Glia will maintain and expand Finn AI’s Canada office as a Conversational AI Center of Excellence.

XMachina AI Group Inc. (formerly 1210352 B.C. Ltd.) completed a business combination on June 7, 2022 to acquire XMachina-AI Inc. (XMAI) via a three-cornered amalgamation in British Columbia. The transaction resulted in XMAI becoming a wholly owned subsidiary (now known as XMachina AI Inc.), and the combined company intends to apply to list its subordinate voting shares on the Canadian Securities Exchange.

Gradiant announced it has acquired Canadian AI water technology company Synauta to accelerate the use of digital twin technology in industrial water treatment, desalination, and water reuse. The deal is intended to strengthen Gradiant’s end-to-end water solutions platform by adding Synauta’s machine-learning models and predictive analytics capabilities. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2022.

WELL Health Technologies Corp., through its wholly owned subsidiary WELL Ventures, made a significant minority investment in 11855760 Canada Inc. (Tali.ai). The investment is paired with a five-year strategic alliance that enables WELL to cross-license, resell, and commercialize Tali.ai’s AI-powered voice assistant technology across WELL’s EMR portfolio and apps.health marketplace.

Lattice Semiconductor Corporation announced it has acquired Mirametrix, Inc. in an all-cash transaction. The acquisition expands Lattice’s software portfolio by adding Mirametrix’s AI and computer vision capabilities to complement Lattice’s hardware and software solution stacks.

Hootsuite announced it has acquired Heyday, a Montreal-based conversational AI customer messaging platform, for approximately CA$60 million. The deal expands Hootsuite’s social commerce and customer care capabilities by adding Heyday’s AI-driven 1:1 messaging automation and integrations with e-commerce platforms.

Kinaxis Inc. has signed a definitive agreement to acquire Toronto-based Rubikloud, an AI-driven demand planning and prescriptive analytics provider for retail and consumer packaged goods. The all-cash transaction values Rubikloud at US$60 million and is expected to close within 60 days, enhancing Kinaxis RapidResponse’s demand planning and AI/ML capabilities.

Circle Cardiovascular Imaging Inc. announced the acquisition of Corstem Inc., an AI and machine-learning cardiac imaging analysis software developer. Corstem’s technology will be integrated into Circle’s cvi42 platform to deliver automatic, fully-quantitative myocardial perfusion, expanding Circle’s cardiac MRI reading and reporting capabilities.