On June 15, 2020, Rubikloud announced it will be acquired by Kinaxis for US $60 million (CAD $81.4 million). Under the terms of the acquisition, 80 members from Rubikloud will join Kinaxis’ AI and machine learning team. The acquisition will allow Rubikloud and Kinaxis to contribute to new and existing AI powered capabilities across the Kinaxis RapidResponse platform and applications.
Kinaxis is an Ottawa based software company with a focus on supply chain management and sales operation planning. Kinaxis’ RapidResponse platform offers a fast growing and innovative supply chain management solution to enterprises.
Rubikloud is a Toronto based software firm specializing in a cloud native AI platform that improves promotional planning and loyalty driven marketing for large retailers and manufacturers in the health and beauty, household and grocery markets. Rubikloud offers demand forecasting and automation to optimize pricing, trade promotions and assortment.
Osler, Hoskin & Harcourt LLP advised Rubikloud with a team consisting of Chad Bayne, Gary Marshall, Justin Dharamdial, Matthew Griffin, Jeremy Lin, Horatiu Porime, Shalu Atwal (Emerging and High Growth Companies), Dov Begun, Alan Kenigsberg (Taxation), Steven Dickie, Summer Danakas (Employment and Labour) Michael Budabin McQuown (Corporate) and Sam Ip (Technology).