Coffee Briefings are timely deliveries of the latest ITWC headlines, interviews, and podcasts. Today’s Coffee Briefing is delivered by IT World Canada’s editorial team!
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What’s new this week
Hootsuite gets new chief product officer
Vancouver-based global social media management company Hootsuite today announced it has appointed Natalia Williams as its new chief product officer. In her role, Williams will have responsibility for Hootsuite’s strategic product direction, product management, and product design. She will be part of the Hootsuite executive leadership team and will be based in Hootsuite’s new Atlanta office.
Williams has over 15 years of product and technology experience, most recently as chief product officer of Mailchimp. Prior to that, she held leadership roles in retail technology with Bloomingdale’s and Macy’s.
Telus further expands its Health for Good program to support Calgary’s underserved communities
Powered by Telus Health, the digital health technology division of Telus, The Alex Mobile Care Clinic will ensure even the most marginalized Calgarians have access to immediate, high-quality and compassionate care, when and where they need it. Staffed with both a nurse and a peer support liaison, the mobile clinic will deliver mobile addictions management, and primary healthcare such as routine testing, contraception, women’s health services, STI treatment, harm reduction services, and mental health care and counseling.
The Alex has provided integrated and accessible supports and comprehensive care to Calgarians for almost 50 years. With a full complement of health, housing, and community programs, the Alex is a hub of support and outreach services for people who are experiencing poverty, trauma, social isolation, or health challenges including addiction.
Kaseya to acquire Datto for US$6.2 Billion
Kaseya, a unified IT management and security software provider for managed service providers (MSPs) and small to medium-sized businesses (SMBs), and Datto, a global provider of security and cloud-based software solutions purpose-built for MSPs, yesterday announced that they have entered into a definitive agreement for Kaseya to acquire Datto for US$6.2 billion.
The all-cash transaction, currently expected to close in the second half of 2022, will be funded by an equity consortium led by Insight Partners, with significant investment from TPG and Temasek, and participation from investors including Sixth Street, Kaseya noted.
Under the terms of the agreement, Datto stockholders will receive US$35.50 per share in a transaction which values Datto at approximately US$6.2 billion. The offer represents a 52 per cent premium to Datto’s unaffected stock price of US$23.37 as of March 16, 2022.
Combining Datto’s capabilities with Kaseya brings together a broader array of technology products to create additional opportunities for MSPs, according to Tim Weller, chief executive officer of Datto.
Peel region to get 80 new EV chargers across the region
Minister of National Defence Anita Anand, on behalf of Minister of Natural Resources Jonathan Wilkinson, yesterday announced a $445,000 investment in the Regional Municipality of Peel to install 80 electric vehicle (EV) chargers across the region. Funded through Natural Resources Canada’s Zero-Emission Vehicle Infrastructure Program, all chargers will be available to Ontarians by the end of this year.
“We’re making electric vehicles more affordable and charging more accessible where Canadians live, work and play. Investing in more EV chargers, like the ones announced today in Ontario, will put more Canadians in the driver’s seat on the road to a net-zero future and help achieve our climate goals,” said Wilkinson.
Thoma Bravo to acquire SailPoint for US$6.9 billion
Enterprise identity security company SailPoint Technologies yesterday announced that it has entered into a definitive agreement to be acquired by the software investment firm Thoma Bravo in an all-cash transaction that values SailPoint at approximately US$6.9 billion.
Subject to the terms of the agreement, SailPoint stockholders will receive US$65.25 per share in cash, representing a premium of 48 per cent to SailPoint’s 90-day volume-weighted average price (VWAP). Upon completion of the transaction, Thoma Bravo says SailPoint will become a privately held company with the flexibility and resources to continue providing identity security solutions to modern enterprises around the world. Additionally, SailPoint will benefit from the operating capabilities, capital support, and software expertise of Thoma Bravo.
The transaction is expected to close in the second half of 2022. Upon closing of the transaction, SailPoint’s common stock will no longer be listed on any public market. The company will continue to be headquartered in Austin, Texas.
Canadian AI-driven comprehensive drug knowledge platform DrugBank secures $9M in seed funding for biomedical data R&D
DrugBank, an intelligent and comprehensive drug knowledge platform, yesterday announced it has secured $9 million CAD in seed funding to solve the challenges associated with the world’s exponentially-growing biomedical data. With this investment, DrugBank says it will rapidly scale its operations and invest in research and development. It plans to expand its AI-powered technologies to more effectively solve major industry problems.
This seed round was led by Brightspark Ventures with participation from Amplitude Ventures, Theodorus Investment Funds and existing investors including AccelerateFund and Milad Alucozai from BoxOne Ventures who led the pre-seed round. This brings DrugBank’s total funding to $10.6 million CAD.
DrugBank began in Biological Sciences professor Dr. David Wishart’s lab at the University of Alberta in 2006, as a research project to provide high-quality, structured datasets to academic researchers. Commercial interest surged and, recognizing the potential of AI and machine learning in data-driven medicine, DrugBank began commercialization. Today, DrugBank is a well-respected resource and trusted partner in pharmaceutical research. The startup supports customers in over 24 countries including 13 of the top 20 pharmaceutical companies. It has more than 12 million global users annually, and developers have built over 300 open source and GitHub projects using DrugBank. This platform is accessible through DrugBank Online (its free-to-use website), and data and software integrations.
QuickBooks introduces new suite of tools to support growing businesses
Intuit has launched QuickBooks Online Advanced in Canada, a cloud-based offering and an enhanced version of the accounting software QuickBooks Online that was built for more complex and growing businesses.
A spokesperson for QuickBooks explained the key features of QuickBooks Online Advanced are:
- Business performance tracking: With Performance Centre, users can track the key business insights with custom charts, dashboards, and layouts. Users can also add and compare metrics to understand how they’re growing.
- Customized data sharing: Using the Custom Roles feature, customers can control who can and can’t see sensitive data. Creating user access by transaction types (e.g. sales and expenses) and specific capabilities (e.g. banking, inventory, payroll, reports and account management) can boost productivity to support growth when delegating work.
- Custom insights: Using Enhanced Custom Fields, users can track the little things to get the big picture. They can create more detailed reports with drop down menus, date selection and multiple field types, including up to 12 fields per form. Users can also search, sort and filter the data they need, faster.
More information on the product and the pricing details can be found here.
More to explore
Panasonic Canada suffered a serious cyberattack in February, according to a news report. The company’s response to the attack included identifying the scope of impact, containing the malware, cleaning and restoring servers, rebuilding applications and communicating rapidly with affected customers and relevant authorities.
Restaurants Canada, a national not-for-profit association that aims to advance the potential of Canada’s foodservice industry through member programs, research, advocacy, resources, and events, has announced it is developing the first metaverse marketplace for Canada’s foodservice industry.
Shopify has announced a 10-for-1 split of its class A and class B shares, subject to shareholder approval. The company now joins a growing list of businesses that have split their shares to make them more appealing to investors.
A teasing “Coming soon” notice posted last week on Twitter from Shanghai-based phone manufacturer Unihertz may herald what, if not a duly-licensed BlackBerry design, looks very much like a BlackBerry KEY2 Android smartphone. Enterprising users who brightened the dark image managed to showcase the whole device.
Fifty per cent of human tasks will be automated by 2025, according to the World Economic Forum. However, it will take a lot more progress to achieve that goal, said Glen Moffatt, VP of the S/4HANA Centre of Excellence at SAP.
SpaceX and Tesla chief executive officer Elon Musk has rejected his place on Twitter’s board of directors. Musk was slated to officially join the company’s board on April 9 following his large share purchase earlier last week, which sent his total Twitter stake to 10 per cent.
A recent study from telecommunications company Telus has noted that “the pervasive increase in ransomware seen over the last 24 months has left many organizations struggling to stay ahead of the threat.” The study further notes, “Around the world, ransomware attacks are bringing organizations, and the communities they serve, to a grinding halt. No one is immune.
Two new commerce reports from Square, a software, payments and hardware solution for businesses, indicate Canadian businesses are looking for new ways to reach customers and transform businesses.
Tata Consultancy Services (TCS) and Payments Canada are partnering to help implement the Payments Canada Real-Time Rail (RTR) system, allowing Canadians to initiate payments and receive funds in seconds, at any time.
Staying informed is a constant challenge. There’s so much to do, and so little time. But we have you covered. Grab a coffee and take five while you nibble on these tidbits.
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