Vancouver-based Copperleaf Technologies is set to go private in a $1 billion takeover by Swedish AI and cloud-computing software company IFS. IFS will acquire Copperleaf for $12 per share, an 18% premium on the company’s stock price as of Monday. Copperleaf, which provides software for managing financial assets and operations, went public on the Toronto Stock Exchange in 2021.
The shares debuted at $15 and peaked at $25 before settling at around $12. This acquisition is part of a trend of Canadian tech companies going private after their public market debuts in 2020 and 2021. Copperleaf shares rose nearly 17% on the TSX following the announcement.
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