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Canadian Tech in 100 Words

EQT, CPP Investments Acquire Neogov for $3B

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EQT and CPP Investments have acquired HR software company Neogov in a $3 billion deal from Warburg Pincus and The Carlyle Group. Neogov, which serves public sector organizations, will focus on integrating AI to enhance compliance and efficiency under its new ownership.

The transaction reflects a rising trend of sponsor-to-sponsor exits, which account for 51.3% of U.S. private equity exits year-to-date, according to PitchBook. CPP Investments targets large-scale technology and service deals in North America and Europe, while the acquisition brings EQT X fund deployment to roughly 60-65%.

Want to know more? Check out the source code on PitchBook.

Thomson Reuters Launches CoCounsel Legal With Agentic AI

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Thomson Reuters has launched CoCounsel Legal, its most advanced AI product, bringing agentic AI to legal professionals through Deep Research and guided workflows. Built on Westlaw and Practical Law content, CoCounsel can generate structured, citation-backed research reports and execute multi-step workflows like drafting policies, complaints, and discovery requests.

Unlike traditional copilots, the platform embeds AI directly into legal work, offering reasoning, planning, and transparency to support law firms and corporate legal teams. Executives say CoCounsel Legal represents a shift from prompt-based tools to enterprise-ready AI teammates.

Want to know more? Check out the source code on Newswire.ca.

Databricks to Open First Canadian R&D Hub in Vancouver

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San Francisco-based Databricks is launching a new research and development hub in Vancouver, its first in Canada. Led by Ken Wong—co-founder of Datajoy, acquired in 2022—the team will focus on AI-driven business intelligence, Unity Catalog’s semantic modeling, Databricks Apps, and petabyte-scale analytics.

Vancouver joins a global R&D roster that includes Silicon Valley, Berlin, and Bengaluru. Databricks already supports Canadian clients like Air Canada and TD Bank. The move deepens Canada’s innovation footprint as Databricks, now valued at $62 billion, eyes $3.7 billion in annualized revenue and a future IPO.

Want to know more? Check out the source code on Techcouver.

QScale Eyes $4B AI Data Centre Near Toronto

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Lévis-based QScale plans to build a $2.5–$4 billion AI data centre in the Greater Toronto Area, pending formal approval from Hydro One this fall. The Ontario facility would be one of Canada’s largest and follows QScale’s Q01 build in Lévis—a 142-megawatt, $1.2B centre powering firms like HPE and Micrologic.

Q01’s success, including free cooling and heat reuse for nearby greenhouses, offers a blueprint for Toronto. With AI workloads skyrocketing, QScale aims to capitalize on demand while advancing sustainable infrastructure.

Want to know more? Check out the source code on The Logic.

NiaHealth Appoints First CMO, Expands Health Platform

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NiaHealth has named Candy Lee as its first Chief Marketing Officer, capping a rapid rise for the Toronto-based startup now scaling as a national leader in proactive health. Lee joins amid a major product expansion, including the public launch of continuous glucose monitoring, a tripling of its clinician team, and biomarker testing growing from 50 to 150+ metrics.

The platform integrates CGMs, fitness wearables, and advanced diagnostics, helping Canadians detect health risks early. With nearly 150,000 tests completed and 90% revealing actionable results, NiaHealth is reshaping prevention in Canadian healthcare.

Want to know more? Check out the source code on Calgary.tech.

eStruxture Secures $1.35B to Expand Canadian Data Centres

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Montreal-based eStruxture Data Centers has raised $1.35 billion in new financing to accelerate expansion across Canada. The package includes $750 million in asset-backed securities—the country’s first rated, asset-only securitization in the data centre sector—plus a $600 million revolving credit facility.

Backed by Fengate Asset Management and institutional investors including LiUNA, Pantheon, and Partners Group, the deal supports rising demand from AI, cloud computing, and data sovereignty needs. CEO Todd Coleman called the move “a watershed moment” for Canadian digital infrastructure, with ABS notes issued under eStruxture’s new Green Finance Framework.

Want to know more? Check out the source code of GlobeNewswire.

Attabotics Rejected Buyout Before Collapse, Documents Show

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Calgary’s Attabotics, now in creditor protection, received a US$350-million all-cash acquisition offer from Honeywell in 2020, according to documents obtained by The Logic. The robotics firm, once a rising tech star backed by $200 million in funding and taxpayer support, laid off 192 workers on July 2.

Its vertical robotic warehousing system drew major clients like Nordstrom and Canadian Tire. Though Honeywell remained an investor, its takeover bid was never finalized. Attabotics’ assets are now valued at $31.6 million—against $73.8 million in liabilities. The reason the 2020 deal fell through remains undisclosed.

Want to know more? Check out the source code on The Logic.

Canada Launches National Mission to the Moon

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The Canadian Space Agency has awarded $14.6 million in contracts to three Canadian companies to develop a fully Canadian lunar rover. MDA Space, Mission Control, and Canadensys Aerospace will explore design options for the versatile, AI-powered rover, which is expected to support astronauts, carry cargo, and perform logistics on the moon.

The rover must function autonomously for 10 years and survive extreme lunar conditions. Backed by $1.43 billion in federal funding, the project is part of Canada’s long-term lunar strategy and aligns with NASA’s Artemis ambitions.

Want to know more? Check out the source code on BetaKit.

Yaletown Closes $100M for Next-Gen Tech Fund

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Yaletown Partners just closed $100M for IGF III—its biggest fund yet, aiming for $250M total. Even in a tough VC climate, the Vancouver firm moved fast, with backing from EDC, BMO, and InBC. IGF III doubles down on “Intelligent Industry,” targeting tools like edge computing and physical AI to digitize asset-heavy sectors.

“It’s the most scalable lever for competitiveness and returns,” says managing partner Salil Munjal. Investors say Yaletown knows how to pick and scale industrial winners.

Want to know more? Check out the source code on Techcouver.

Canada Marks Milestone with First Offshore Wind Sites

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Canada has designated its first four offshore wind energy areas, all located off Nova Scotia’s coast. The selected sites—French Bank, Middle Bank, Sable Island Bank, and Sydney Bight—could generate up to five gigawatts of power, supporting energy security and economic growth.

Nova Scotia’s top-tier wind speeds position the province to become a clean energy exporter. A competitive licensing process, managed by the Canada-Nova Scotia Offshore Energy Regulator, will follow. Public consultation shaped the site selection, part of a broader strategy to create clean jobs and support long-term prosperity.

Want to know more? Check out the source code on CleanEnergy.ca.