Plus: UK probing Adobe’s $20 billion Figma deal.
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Hypercontext completes HR pivot with new AI-powered performance management tool (BETAKIT)
Performance review season, whether it’s once, twice, or four times a year, is almost a universally dreaded time for employees and managers. Toronto-based Hypercontext is looking to change that with its recently released AI-powered feature designed to help managers generate employee performance reviews.
For CEO and co-founder Brennan McEachran, the tool represents a key step into the HR sector for Hypercontext. But the recent explosion of AI tools has also sparked discussions regarding the role of AI-driven decision-making across departments, including HR. With the technology still in its infancy, experts have raised questions about the ethical implications of relying on machines to make determinations that could directly impact employee livelihoods.
CapVest to Buy UK Software Provider Kerridge in $1 Billion Deal
(BNN BLOOMBERG)
Private equity firm CapVest Partners has agreed to acquire UK software provider Kerridge Commercial Systems (KCS) in a deal that values the latter at $1 billion.
KCS, based in Berkshire, England, distributes enterprise resource planning software to 32,000 customers globally.
Sampler acquires AdMass’s tech, founders to add AI, user-generated content to its product sampling platform (BETAKIT)
Sampler, which matches large packaged-goods firms with consumers seeking samples by mail, has acquired fellow Toronto tech startup AdMass.
To start, Sampler plans to give its clients the ability to incorporate user-generated content (UGC) campaigns into their sampling programs, leveraging AdMass’s tech to streamline the curation of UGC and assess consumers’ influence.
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UK announces in-depth probe of Adobe’s $20 billion Figma deal (REUTERS)
Britain’s antitrust regulator on Thursday announced an in-depth probe of Adobe’s $20 billion bid for cloud-based designer platform Figma, after the Photoshop owner said it would not offer any remedies to ease the regulator’s concerns.
The Competition and Markets Authority said it had found the deal could lead to less choice for designers, and identified concerns in the supply of screen design software, where the companies compete.
Formaloo raises $2.9 million CAD to help businesses build apps without any code (BETAKIT)
Formaloo, a startup dual headquartered in Canada and Estonia, has raised $2.9 million CAD in seed funding to support the expansion of its no-code platform for building a variety of business applications.
Formaloo integrates with Slack, Google, and Microsoft programs, allowing users to create databases and add interfaces by dragging and dropping building blocks.
Gamified e-learning platform Kahoot gets acquired in a $1.7B deal led by Goldman Sachs, Lego and more (TECHCRUNCH)
Kahoot, the education-focused “games” platform, has announced that it is going fully private in an all-cash PE deal valuing the company at $1.7 billion.
Tapping into Vaughan’s emerging world-class healthcare hub with Mayor Del Duca (BETAKIT)
The Cortellucci Vaughan Hospital sits on more than 80 acres of undeveloped land.
Vaughan Mayor Steven Del Duca—along with Council colleagues, Mackenzie Health, York University, and ventureLAB—has a plan to turn that land into a world-leading medical innovation hub.
Salesforce Makes Rare Price Hike After Launching AI Features
(BNN BLOOMBERG)
Salesforce Inc. is raising prices for for the first time in seven years after introducing artificial intelligence features.
Since its last price hike, “the company has delivered 22 new releases and thousands of new features — including recent generative AI innovations,” Salesforce said.
WaitWell closes $1.5 million to bring its queue management tech to new markets (BETAKIT)
Calgary-based WaitWell, which sells queue management and service-delivery software, has secured $1.5 million CAD in seed funding to expand its product and move into new markets.
WaitWell’s platform currently facilitates digital appointment booking, queuing, workflow, events, virtual meetings, and analytics.
Corus Entertainment selling Toon Boom Animation subsidiary for $147.5M (THE CANADIAN PRESS)
Corus Entertainment Inc. says it has signed a deal to sell its Montreal-based animation software subsidiary Toon Boom Animation Inc. to Integrated Media Company (IMC) for $147.5 million in cash.
Toon Boom’s software is used for animation, storyboarding and production management.
Report: Canada saw over 30,000 tech workers immigrate while losing nearly 1,700 to the US (BETAKIT)
Canada saw an intake of over 30,000 tech workers from abroad within the last year, a new report from the Technology Councils of North America (TECNA) and Canada’s Tech Network (CTN) found.
Additionally, the report found that Canada “largely” benefits from investment of American tech companies as they expand or relocate to Canada.
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