Bit Stew Exit Ranked by PitchBook as Top VC-Backed Canadian Deal of 2016
January 15, 2017
PitchBook, the industry’s leading resource for information about global VC, PE and M&A activity, has ranked Bit Stew as the top VC-Backed Canadian Exit of 2016. Yaletown Partners was Bit Stew’s first and largest investor.
In November 2016, Yaletown was rewarded for its emerging growth investment into Canada’s Industrial Internet of Things future when Bit Stew Systems announced that the company had been acquired by GE Digital (NYSE: GE). Looking back at 2016, the deal valued at more than $200M CAD, ranked as the top VC-backed Canadian exit by deal size.
Yaletown and Bit Stew were fortunate to attract and collaborate with a strong investor syndicate that included Cisco Systems, GE Ventures, BDC Capital and Kensington Capital.
Incorporated in 2009, Bit Stew expanded to become the premier data integration platform for the Industrial Internet of Things (IIoT) providing data analysis and predictive automation for connected devices used by industrial customers including utilities, manufacturing, aviation and oil and gas. The company earned global recognition on the Gartner Cool Vendors List and with ranking by Forbes as one of the Top 100 Analytics Companies. By applying machine intelligence to data integration, customers found Bit Stew technology could reduce project costs by an average of 90% compared to traditional approaches.
Learn more about the Bit Stew Systems acquisition.
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