Canadian Deal-Making Perks Up
- Avid Life Media Inc. is one of at least seven Canadian technology companies pushing for an IPO in the upcoming months.
- Avid Life posted $30-million of sales and $8-million of earnings EBITDA in 2009, a four-fold increase over 2008.
- Part of the money raised will be used to acquire privately-held Moxy Media, a company running more than 300 websites.
Takeaway: The recent burst of IPO activity reflects institutional and individual investors’ interest in higher-risk securities, after a two-year dry spell for initial public offerings.
Source: Andrew Willis and Boyd Erman at The Globe and Mail