Montreal, Canada, April 12, 2022 – - Orthogone Technologies, a Canadian leader in the development of highly specialized engineering solutions requiring an in-depth knowledge of software development, embedded systems, and FPGAs, is proud to have Desjardins Capital as a strategic partner and minority shareholder of the company. This support will allow the management team to develop its ambitious international development plan, which will result in annual growth of 50% over the next few years. Raymond Chabot Grant Thornton acted as a financial advisor for this round of growth capital financing and share buyback.
"We are proud to welcome Desjardins Capital, says Luc Leblanc, President and co-founder of Orthogone Technologies. Like us, they advocate a vision that supports development initiatives, while creating long-term value and ensuring the sustainability of companies. More than ever, we are determined to become a leader in innovative product development with their support."
100 new specialized jobs within three years in Quebec
This financing will allow Orthogone Technologies to create 100 new specialized jobs in Quebec over three years and deploy its sales and marketing activities in North America. The company will be able to serve large original equipment manufacturers (OEMs) with integrated digital technology offerings, such as sensors, Internet of Things (IoT), analytics, cloud technologies, imaging, and computer vision. Furthermore, the company will accelerate the commercialization effort of its FPGA solutions optimized for ultra-low latency networking applications used in the financial, telecommunications and data center markets.
This growth plan is based on the team's highly specialized technological expertise, a strong passion for innovation, long-standing relationships with the company's key customers and their high level of satisfaction, and a growing interest in co-innovation.
"The digital transformation in multiple industries fuels the demand for innovative software solutions and positions Orthogone Technologies favorably to seize this tremendous opportunity. Desjardins Capital's access to Orthogone Technologies' equity capital is a perfect illustration of our strategy to partner with successful companies to accelerate their international growth", explains Marie-Hélène Nolet, Chief Operating Officer at Desjardins Capital.
Orthogone Technologies, an essential partner
Through its R&D investments, relationships and innovation, the company also relies on an extensive ecosystem of technical and channel partners, as well as leading chip manufacturers (Xilinx, Intel), to develop, deliver, and support its customers. With its expertise, Orthogone Technologies is a valuable ally for OEMs who wish to extend their technological capabilities and accelerate the development of new products. It has notably contributed to the development of Analogic’s next generation digital mammography detector for the medical industry and the design of a 3D LiDAR sensor for autonomous vehicles with LeddarTech, a leader in solving critical sensing, fusion and perception challenges.
Orthogone offers highly specialized engineering solutions focused on the design of innovative products requiring in-depth knowledge of software development, embedded systems, FPGAs and SoCs for its numerous Quebec and world-class customers. The company also licenses intellectual property for FPGA, ASIC, or ASSP designs in latency-critical networking applications for the financial, telecommunications and data center markets. It offers turnkey electronic product development and design across a variety of verticals, like automotive & transportation, telecom & datacenter, security & surveillance, connected healthcare and aerospace & defense. Founded in 2007, the company has a workforce of 75 employees.
About Desjardins Capital
Over 45 years strong, Desjardins Capital has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$3 billion as of December 31, 2021, Desjardins Capital helps to contribute to the longevity of more than 670 companies, cooperatives, and funds in various sectors from across Quebec. In addition to helping to maintain and create many thousands of jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth. For more information, visit our website