Ottawa’s Kinaxis beefs up AI power with purchase of Toronto-based Rubikloud GlobeBusiness
This translation has been automatically generated and has not been verified for accuracy.Ottawa supply chain software provider Kinaxis Inc. is beefing up its machine learning and artificial intelligence capabilities by buying Toronto startup Rubikloud Technologies Inc. for $60-million in cash.
In buying Rubikloud, Kinaxis will increase its 800-person ranks by 10 per cent, including about 30 machine learning and artificial intelligence specialists. Boosting its ML and AI capabilities has been a focus recently as Kinaxis worked to develop software to help customers automatically “heal” their supply chains in response to unexpected issues. “This moves us ahead significantly,” Kinaxis chairman Ian Giffen said in an interview.
Rubikloud was one of a slew of AI startups to emerge from Canada in the mid-2010s, fuelled by global interest in breakthroughs in self-teaching algorithms largely pioneered in Canada. Rubikloud promised to use AI to help large merchants automate complex decisions, enabling them to run simulations to improve the accuracy of forecasting, ensure merchandise was stocked and allocated as needed and to better model the impact of promotion plans.
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