Acquisition

  • Tessa Bousfield posted an article
    With the acquisition, Latitude will continue to operate with business-as-usual from its headquarters see more

    Source: Vertical Magazine

    ACR announces acquisition of Latitude Technologies

    ACR Electronics, Inc., the global leader in safety and survival technologies, has confirmed that parent company  Drew Marine UK Holdings Ltd has acquired Latitude Technologies Corporation, a leading provider of flight data monitoring, flight following, satellite data link and voice communications equipment and services.

    Latitude joins ACR Electronics’ growing aviation brand portfolio which includes SKYTRAC real-time flight data and communications technology; Flight Data Systems airborne data acquisition and data analysis solutions; and Artex Emergency Locator Transmitters.

    Latitude designs and manufactures versatile aeronautical communications devices and a robust web-based aircraft tracking and flight data analytics platform. Its solutions allow aviation operators to monitor fleet geo-positioning, telematics data, crew safety, and fleet performance from anywhere on the globe.

    With the acquisition, Latitude will continue to operate with business-as-usual from its headquarters in Victoria, British Columbia. The company will retain its existing brand and executive management and will operate in accordance with its regulatory approvals.

    “With our mutual focus on safety, real-time monitoring and in-flight communications, Latitude products and services are highly complementary to the ACR brand family,” said Latitude founder and president Mark Insley. “This is a natural acquisition path for us as we look to combine our expertise and cement the market position we have worked to develop over the past 17 years.”

    “Latitude brings strong technology and a talented team to help us access new markets. Along with SKYTRAC Systems, Flight Data Systems, Artex and ACR Electronics, Latitude Technologies further strengthens our portfolio of aviation monitoring, air-to-ground communications and situational awareness solutions for fixed- and rotary-wing sectors,” said ACR’s vice president of aviation and government businesses, Michael Wilkerson.

  • Tessa Bousfield posted an article
    “eBay’s planned acquisition of Terapeak makes so much sense for everyone involved, particularly for: see more

    Source: TechCrunch.com
    Author: Ingrid Lunden

    eBay acquires Terapeak to provide more analytics to marketplace sellers

    EBay today announced another acquisition today that underscores the company’s current focus on building out better data tools for third-party sellers on its platform, to help it compete better with the likes of Amazon and other marketplaces to attract their business. It’s acquiring Terapeak, a Toronto-based startup (with an office in Victoria), that has built a platform that crunches data about supply, demand and pricing to help guide companies on what to sell and how to price it.

    Financial terms of the deal have not been disclosed. Terapeak had raised around $5 million in funding with the only investor disclosed on Crunchbase being Georgian Partners.

    This is eBay’s 60th acquisition, and notably the last three (including this one of Terapeak) have all been geared at providing better data to eBay users — specifically its sellers and shoppers. SalesPredict, which it acquired in 2016, is in a similar area as Teradata, providing more datapoints to sellers to help them figure out what to sell and when to sell it. Corrigon, meanwhile, is a visual search engine eBay acquired for around $30 million also last year, geared at helping to make those third-party products more easily discoverable on eBay.

    Making sales is the name of the game for eBay: it’s not only important for the company’s own bottom line, but proving its ability to move merchandise is a crucial part of eBay continuing to attract inventory and sellers to its platform.

    Although eBay’s last three acquisitions have been geared towards this end, it does not mean that this is a new strategy for the company: eBay has long been interested in more than being just a site for people to visit to buy and sell things, but it’s also been through a lot of changes in its backend operations, selling off eBay EnterpriseMagento, and other operations over the last several years as part of its restructuring (which also included spinning out PayPal).

    Terapeak had been working together with eBay prior to this deal, and this will be about integrating more of the company’s tools into eBay’s Seller Hub.

    “Nearly two million sellers currently manage their eBay business on Seller Hub.  Expanding Seller Hub to provide additional capabilities from Terapeak will help our sellers be even more successful and enable them to more effectively manage their businesses on eBay,” said Bob Kupbens, Vice President of B2C Selling at eBay, in a statement.  “We are committed to being the best partner to our sellers as we look to create the most powerful selling platform. The integration of Terapeak’s functionalities into Seller Hub – from sales history and performance enhancement opportunities to price guidance and comparisons – will continue to help eBay’s merchants scale their businesses on eBay.”

    It also sounds like Terapeak will, as a result of this deal, work exclusively with eBay.

    “eBay’s planned acquisition of Terapeak makes so much sense for everyone involved, particularly for our customers,” said Kevin North, President and CEO of Terapeak, in a statement.  “We are excited to continue our vision of empowering merchants to discover what to sell on eBay and how to optimize their listings for maximum performance. Over time Terapeak’s capabilities will become naturally integrated with eBay’s Seller Hub, therefore becoming more robust and providing merchants with a single place to manage and elevate their ecommerce business.”

    The transaction is expected to close before the end of 2017, and while Terapeak will report to Kupbens and Sunil Rajasekar, VP of Seller Experience, its employees will stay in Canada.

  • Tessa Bousfield posted an article
    The purchase price is NZD $12.0 million (USD $9.0 million) subject to certain adjustments and escrow see more

    Carmanah Closes Purchase of Vega Industries Limited

    Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announces that it has closed its previously announced transaction to acquire Vega Industries Limited (“Vega”). The purchase price is NZD $12.0 million (USD $9.0 million) subject to certain adjustments and escrow holdbacks.

    Vega, with revenues of approximately NZD $7.7 million (USD $5.8 million) in its fiscal year March, 2017, will be maintained as a wholly owned subsidiary of Carmanah at its base of operations in Porirua, New Zealand.  The acquired business will operationally report to Sabik Marine OY based in Porvoo, Finland.  Integration plans, with a specific focus on providing marine aids-to-navigation customers comprehensive single-source solutions, are expected to be implemented over the coming months.

    As of July 31, 2017, Vega’s estimated balance sheet is comprised of approximately NZD $3.5 million (USD $2.6 million) of working capital, NZD $3.6 million (USD $2.7 million) of fixed assets including land and buildings.  Vega had negligible net debt on the closing date.

    ###

    About Carmanah Technologies Corporation

    Carmanah designs, develops, and distributes a portfolio of products focused on energy-optimized LED solutions for infrastructure. Since 1996, we have earned a global reputation for delivering durable, dependable, efficient, and cost-effective solutions for industrial applications that perform in some of the world’s harshest environments. We manage our business within two reportable segments: Signals and Illumination. The Signals segment serves the Airfield Ground Lighting, Aviation Obstruction, Offshore Wind, Marine, and Traffic markets. The Illumination segment provides solar-powered LED outdoor lights for municipal and commercial customers.

     

    Contact

    Carmanah Technologies Corporation:
    Evan Brown,
    250 380 0052
    Chief Financial Officer/Corporate Secretary
    investors@carmanah.com

  • Tessa Bousfield posted an article
    TeamPages was just an idea that Nikolas and Mike came up with for a class assignment at UVic... see more

    Author: Mike Tan

    TeamPages joins Active Network

    What a day! It's official, TeamPages is joining Active Network :) Super excited about the future of TeamPages as part of the Active family!

    It’s crazy to think that 10 years, ago TeamPages was just an idea that Nikolas Laufer-Edel and I came up with for a class assignment at the UVic Entrepreneurship Program. And that shortly after writing that business plan, with guidance and mentorship from Jonathan Kerr, that business plan ended winning the IDC Challenge and giving us our first $10,000 in seed capital.

    A couple months after winning the IDC Challenge, in October 2006, Adam Palmblad, Jonathan Kerr and I decided to take the plunge and leave our other tech jobs to work on TeamPages full-time. And 2 months later we had converted my apartment into our office (hoisting whiteboards into the apartment from the balcony cause they wouldn’t fit in the elevator), launched our first beta of TeamPages for UVic Intramurals, and raised our first $50,000 from friends and family (instead of getting Christmas presents that December). A big thank you to Adam’s parents, Jon’s parents and uncle, my parents, William Oliver, and Nikolas Laufer-Edel for believing and investing in us early!

    I still remember the first day we launched the site and we made $0.35 cents from Google Adsense and to celebrate we ended buying beers and a pizza which costed us $20 (which at the time of earning $0.35 a day would take us almost 2 months to pay off).

    We were very fortunate early on to have an amazing Board of Advisors (Steven Dagg, Chris Taylor, Tony Melli, Robert Bennett, Eric Sei-in Remy Jordan, and Stacy Kuiack) who helped us stay focus on the right things and avoid many pitfalls early on. Thank you for of your wisdom and support over the years, the early morning meetings, the late night phone calls to go over term sheets and shareholders agreements, and always being there for us even during our most challenging times. 

    A few months after launching the site, we completely lucked out when Kyle Vucko introduced us to Hannes Blum and Boris Wertz who along with Burda Digital Ventures led our Seed Round and joined our Board of Directors. Over the years I have learned so much from the two of you and have the upmost respect for you as mentors, entrepreneurs, and investors. The two of you are two of the smartest, hardest working, and supportive people I have ever met. Thank you for showing me what true hustle and hard work looks like, the importance of tracking metrics early on, that success doesn’t come from a magic silver bullet but a lot of hard work and incremental improvements that add up over time. Thank you for all of your support, wisdom, and much needed tough love throughout the years.

    And shortly after raising our Seed Round, Derek Story joined us a co-founder and VP Sales. Since my departure as CEO in 2012, Derek and Adam took the leadership reins and have been doing a fantastic job ever since. Without their dedication, grit, and hustle, TeamPages wouldn’t be where it is today. Words can’t really express my gratitude and respect to the both of you. Thank you Derek and Adam (and Tracy Wilkinson)!

    The last 10 years has truly been a roller coaster of ups and downs, highs and lows. It’s been amazing journey along the way and one that (after a lot of rest and incorporating all the lessons learned from the mistakes made) I would definitely do again :) 

    A special thank you to Adam's parents and my parents who provided a much needed bridge investment in 2011 that helped us turn the corner and save the company. Thank you for believing in us even in the darkest of moments.

    Thank you to all of our wonderful investors (names I'll keep private but deeply thank and cherish) for all of your support and patience over the last 10 years.

    Thank you to all the amazing team members and friends who made this journey possible and for all of your support over the years: Steve Brown, Helen Wilkinson, Mark Aquino, Matthew Langlois, Minxing Wang, William Oliver, Alex Shipillo, Lesley Bidlake, Naomi Buell, Ian Douglas, Eric Brewis, Joshua Sendoro, Greg Gunn, Allan Kumka, Willem Brosz, Arturo Gomez, Sean Taylor, Oleg Matvejev, David Mikula, Jeremy Rose, Landon Trybuch, Jacob Patenaube, Juri Totaro, Jesse Appleby, William Eckhart

    A big thank you to Arik Broadbent and Mike Rawluk at Farris, Geoff Dittrich at Segev, and Sang-Kiet Ly at KPMG for helping us close this deal!

    A massive thank you to both the tech communities in Victoria and Vancouver for all the support over the years. Without the help VIATEC (Dan Gunn, Robert Bennett, Tony Melli), IRAP (Martyn Ward), and New Ventures BC (Angie Schick), TeamPages would be here today.

    And lastly, thank you to Kelly Luu for being the love of my life and all your unconditional love and support through this journey. You have always been there for me and I can't thank you enough.

    I’m really excited about the next chapter and what’s in store for TeamPages at Active.

    Thank you! And stay tuned :)

  • Tessa Bousfield posted an article
    It was a pleasant surprise when Andrew told me he just bought a majority stake in Dribbble... see more

    Source: Medium.com
    Author: Mikael Cho

    We just sold Crew to Dribbble

    Today is bittersweet.

    It’s the last day I will work on Crew, the company I co-founded 5 years ago. And the last day I get to work with ten of my Crew teammates.

    But it’s also the day an exciting new chapter starts for Crew and continues for Unsplash.

    A few months ago, we announced Crew and Unsplash would operate as separate companies. When we decided to split Crew and Unsplash, our intent was to create a better situation for both companies.

    Unsplash has been growing at an incredible rate and we were doing it a disservice if we didn’t give it more focus. Crew, meanwhile, was also growing but not at the rate we needed it to. We weren’t profitable yet, so we needed to reduce the team and put enough money aside for what we thought was needed to get Crew in the black.

    After splitting them, we had many discussions for the right strategy to help Crew get profitable and build for the long-term. As months went by we realized that Crew really needed one thing: more time.

    Unsplash needed a bigger budget to keep up with growth so we didn’t have much room to support Crew with money. We threw around many ideas for what we could do but the idea that stood out was selling Crew to someone that could help it thrive under more stable conditions.

    If we were going to sell Crew, however, we needed it to be in good hands. Someone who respected designers, our team, and what Crew stood for.

    One of the first people I called was Andrew Wilkinson, founder of the design agency MetaLab and builder of The Berkshire Hathaway of The Internet. (Click here for Andrew's blog from January).

    I first met Andrew a few months ago at an event. For years, I looked up to the work he and his team at MetaLab had done creating elegant products. And I loved Andrew’s philosophy on not screwing up companies he acquires. So it was a pleasant surprise when Andrew told me he just bought a majority stake in Dribbble and was interested in chatting more about possibly buying Crew.

    Andrew first introduced us to Zack Onisko, Dribbble’s CEO. When Zack and Andrew shared the future plans for Dribbble we were smitten. We saw how combining Crew and Dribbble could accelerate both of our plans for creating life-changing platforms for designers.

    We shook hands, as Andrew likes to do, and started working out the deal.

    Today, I’m proud to say that Crew has officially joined forces with Dribbble.

    As a designer and design appreciator, Dribbble was the first online platform I looked up to. It’s where I spent hours being inspired by untouchable work like Konstantin Datz’s boxing glove icon and Markus Magnussen’s Kick Push animation. And where I was first introduced to my design heroes.

    Over the last 5 years, we fought for Crew like our life depended on it. We worked out of a basement, went through 2 business model changes, and 2 name changes, all in service of creating a place where quality, creative work was valued. Crew has grown to support designers from over 32 countries, attracting over $40 million in projects. We came a long way from our Mailchimp and Wufoo days.

    There were many ups and downs. But the most rewarding part was fighting to create something positive alongside some of the most amazing people I’ve ever met.

    Selling the company you started and CEO’d for 5 years is a weird thing. I can no longer login to my mikael@crew.co email. But I’ve had an incredible, unforgettable time. Building Crew, Unsplash, and all our quirky things has been the time of my life.

    I know Crew and my Crew teammates are continuing on to do great things. But it’s hard to say goodbye. I’m honored they chose to spend years of their life fighting to make Crew happen. They took Crew to places I never imagined and I learned so much from everybody. They worked their asses off and never doubted when things got tough. I’m proud to have had the chance to work alongside them and I know there will be many more great things to come.

    So what does this mean for Crew today? It won’t change much. Crew will continue to run mostly as is. Our dream of helping creators find work they love will remain alive. It will just be as part of the Dribbble family.

    As for Unsplash, the sale of Crew means we move forward with even more focus. We have big things in the works along with an amazing squad. If you’d like to join us, we’re hiring a few people.

    For those of you who’ve read this and followed along our journey so far, I really appreciate you. We wouldn’t have gotten to do any of this if it weren’t for your support and care.


    Starting a new chapter wouldn’t be complete without a slide show. So here’s a tribute to Crew.

  • Tessa Bousfield posted an article
    Starfish Medical has acquired Toronto medical-device designer Kangaroo Group. see more

    Source: Times Colonist
    Author: Andrew Duffy

    Victoria medical-device maker Starfish acquires Toronto firm

    In a bid to attract more business from the medical-technology hubs of the eastern U.S., Starfish Medical has extended its rays across the country and acquired Toronto medical-device designer Kangaroo Group.

    Terms of the sale have not been released, but the result will be a single company with headquarters in Victoria under the Starfish name.

    “There are lots of transformations when you’re in our kind of business. We feel we are reinventing ourselves every couple of years and this is just another one,” said Starfish founder Scott Phillips. “The innovation and change is relentless.”

    The acquisition, apart from establishing Starfish as a national medical-device developer, will put the company on the radar of medical-technology companies that have clustered in Boston and Minneapolis.

    “We weren’t getting very good access to that. We cover the west particularly well, but once in a while we’d lose a job because people thought it might be a hassle to visit us,” said Phillips.

    He said Kangaroo has been well represented in eastern Canada, but hasn’t made much headway into the U.S. “That’s our opportunity — to use this location and make much more of an impact.”

    Phillips said establishing Starfish across the country also reinforces the brand and sends the message the company can handle big jobs from larger companies.

    The company Starfish has acquired has about 25 employees, adding to the 100 at Starfish.

    “Kangaroo has a core strength in industrial design and Starfish has core strengths in physics, software, electronic design, optics, ultrasound and other core technologies. I’m excited to see what we can do together,” said Phillips.

    For Lahav Gil, founder and chief executive of Kangaroo who will now be vice-president of innovation for Starfish, the merger seemed to be destined.

    “It’s magical how that happened and how we’re at that point where it seems frictionless,” he said. “Existing Kangaroo clients will experience much more robust service and offerings. On the product development side, they will be able to tap into a plethora of additional expertise. In manufacturing they’ll find an expanded supply chain and regulatory personnel and expertise.”

    Phillips said Kangaroo had the right culture and outlook.

    “We looked at several companies, but the guys in Toronto were a good fit,” Phillips said, noting they shared the same drive to get to the bottom of things and to constantly be innovative.

    “We felt most mergers fail due to culture and we wanted to find one that had a foundation we could work with from all the way across the country.”

    That was key as none of Starfish’s senior managers wanted to leave the Island to oversee the Toronto operation.

    Phillips said there will be a learning curve the company works through as teams in Victoria will be working with counterparts in Toronto.

    “That’s something we have to figure out how to do effectively,” he said.

    The sale comes after more than two years of intense growth at Starfish, which has expanded within its own Victoria offices and maintained a healthy hiring pace.

    Phillips said Starfish has seen 50 per cent growth in each of the last two years.

    “It’s kind of remarkable how the company has changed,” said Phillips. “There has been so much demand the last few years, we’re at a break-neck pace.

    “We did want to take a breath and re-tool, and yet here we have just bought a company and hired 10 new people.”

    Phillips said he wants to take a cautious approach to future expansion, and will focus on building business in the east before looking at expansion on the West Coast of the U.S.

    The recent growth spurt appears to be down to the nature of the business.

    The company is 17 years old and has enough satisfied clients to develop and enhance its reputation in the medical device field. “Work in this field is a matter of reputation and referral,” said Phillips noting most sizable projects can take five years or more to complete. “So it takes a while to build up a reputation.”

  • Tessa Bousfield posted an article
    One of capital region’s high-tech pioneers has been sold to SGS, a Swiss company with operations... see more

    Source: Times Colonist
    Author: Carla Wilson

    Swiss giant buys AXYS Analytical of Sidney

    One of capital region’s high-tech pioneers has been sold to SGS, a Swiss company with operations around the world.

    Sidney’s AXYS Analytical Services Ltd., founded in 1974, is now SGS AXYS.

    The sale closed Friday. The price is not being released.

    AXYS Analytical had been owned by a small group of primarily local shareholders, John Cosgrove said Tuesday. Cosgrove joined the company 13 years ago and served as its president and CEO. He is now vice-president and senior technical director with SGS AXYS.

    The company operates out of two buildings, totalling 20,000 square feet, on Mills Road West, and has 110 staff.

    “We expect to keep all employees,” Cosgrove said.

    AXYS Analytical is known for precisely measuring low levels of contaminants in everything from human blood to fish tissue, water and sediments.

    It has looked for PCBs (polychlorinated biphenyls) in human milk, pharmaceuticals in waste water effluent, and naphthenic acids in oilsands waters. Naphthenic acids are byproducts of oilsands extraction and considered a primary source of toxicity in tailings.

    Testing is performed for research organizations, regulatory bodies, consultants and industry. Clients also include governments in Canada.

    The company is expected to generate more than $12 million in revenue this year, an SGS statement said.

    AXYS Analytical was part of what was called the AXYS Group of Companies, which included AXYS Technologies and Seastar Chemicals. The other firms were not part of the sale.

    SGS AXYS will work with the SGS’s environmental, health and safety operations in Mississauga, company spokesman Fulvio Martinez said from Ontario.

    The Mississauga operation concentrates on post-regulatory analysis, Cosgrove said.

    Within Canada, SGS has about 2,000 employees. It operates across the country in 70 locations. Globally, SGS has more than 85,000 employees, working in more than 1,800 offices and laboratories.

    Frankie Ng, CEO of SGS, said in a statement about AXYS: “This acquisition complements the service offering of our recent Accutest acquisition, as well as enhancing our existing environmental network.”

    SGS announced in January that it had bought Accutest Laboratories, the fifth-largest full service environmental testing company in the U.S.

    Accutest had a network of laboratories and service centres in 14 states, with more than 600 employees, and operational revenues of $65 million US in 2015.

  • Tessa Bousfield posted an article
    Accretive Acquisition Expands Presence in the North American Telematics Market see more

    Source: Market Wired

    VICTORIA, BC  --(Marketwired - March 03, 2016) - Vecima Networks Inc. ("Vecima" or "Company") (TSX: VCM), an experienced designer and manufacturer of innovative technology in the broadband equipment market, today announced that it has acquired the assets of Contigo Systems Inc. ("Contigo"), a Vancouver-based private company.

    Contigo is a leading provider of turn-key GPS solutions for fleet management, asset tracking and personal safety for small to medium sized fleets. Providing multiple forms of locatable devices and a state-of-the-art web platform, Contigo's solution is ideally suited to the large and growing market for commercial fleet management. The technology allows monitoring of disparate types of location devices from on-board monitoring/diagnostics devices to smartphones, all on one unified platform using wireless network infrastructure. Contigo's two key products are RideAlong, for commercial vehicle tracking, and Alert & Assist, for lone worker safety. Contigo's revenues are approximately $5.0 million annually, of which greater than 90% is recurring.

    "Contigo brings to Vecima over 15,000 subscribers, channel strength, and a nimble development team with deep understanding of the telematics space. The addition of Contigo is complementary to our own FleetLynx business in terms of both geographic focus and target fleets adding significant presence in the service fleet vertical to Vecima's commercial trucking customer base. Not only is this acquisition immediately accretive, but by combining our businesses, we expect further synergies which should add to our overall EBITDA over time," said Sumit Kumar, Vecima's President and CEO.

    "My team and I are excited to be joining forces with Vecima, a company with a proven track record of technology leadership. Our combined subscriber base, human resource pool, and financial strength will position Contigo's platform for growth in the telematics market," said Lindsay Ryerson, President and CEO of Contigo.

    "We are very excited to acquire this strongly performing company which will boost the telematics component of our business," added Mr. Kumar. "Vecima has great respect for the team at Contigo and the quality of the business they have built. Mr. Ryerson will join Vecima as Vice President and General Manager of the combined fleet business. We look forward to the addition of Lindsay and his team and backing them with the support of Vecima's resources to grow the business going forward."

    About Vecima Networks

    Vecima Networks Inc. (TSX: VCM) designs, manufactures and sells products that enable broadband access to cable, wireless and telephony networks. Vecima's hardware products incorporate original embedded software to meet the complex requirements of next-generation, high-speed digital networks. Service providers use Vecima's solutions to deliver services to a converging worldwide broadband market, including what are commonly known as "triple play" (voice, video and data) and "quadruple play" (voice, video, data and wireless) services. Vecima's solutions allow service providers to rapidly and cost-effectively bridge the final network segment that connects the system directly to end users, commonly referred to as "the last mile", by overcoming the bottleneck resulting from insufficient carrying capacity in legacy, last mile infrastructures. Vecima's products are directed at two principal markets: Converged Wired Solutions and Broadband Wireless. More information is available at our website at www.vecima.com.

    About Contigo

    Contigo's patented location-based platform enables businesses to monitor their vehicles, assets and personnel 24/7 via the internet. Contigo's solutions are distributed across the U.S. and Canada through Contigo's network of strategic partners and value-added resellers. Founded in 2002, Contigo is a privately held corporation based in Vancouver, British Columbia. For more information, please visit www.contigo.com.

    Forward-Looking Statements

    This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes", "may", "plans", "will", "anticipates", "intends", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release includes statements about: not only is this acquisition immediately accretive, but by combining our businesses, we expect further synergies which should add to our overall EBITDA over time; our combined subscriber base, human resource pool, and financial strength will position Contigo's platform for growth in the telematics market; Contigo will boost the telematics component of our business; and Mr. Ryerson will join Vecima as Vice President and General Manager of the combined fleet business.

    In connection with the forward-looking information contained in this news release, Vecima has made numerous assumptions, regarding, among other things: we are able to successfully integrate Contigo's business, products and technologies without substantial expenses, delays or other operational or financial problems; we can manage our business and our growth successfully; we are able to develop new products and enhance our existing products; we can expand our current distribution channels and can develop new distribution channels; we are not required to change our pricing models to compete successfully; our third-party suppliers and contract manufacturers upon which we rely continue to meet our needs; and, our intellectual property is not infringed upon. While Vecima considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause Vecima's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein; Known risk factors include, among others: failure to manage our business or our growth successfully may adversely affect our operating results; our success depends on our ability to develop new products and enhance our existing products; we are dependent on the expansion of our current distribution channels and the development of new distribution channels; if we are required to change our pricing models to compete successfully, our margins and operating results may be adversely affected; our reliance on third-party suppliers and contract manufacturers reduces our control over our performance; and, third parties may allege that we infringe on their intellectual property.

    A more complete discussion of the risks and uncertainties facing Vecima is disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated September 25, 2015, as well as the Company's continuous disclosure filings with Canadian securities regulatory authorities available at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Vecima disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

    CONTACT INFORMATION