The Toronto Stock Exchange is set to lose yet another Canadian technology company after digital commerce technology seller mdf commerce inc. agreed to a buyout by New York private equity giant Kohlberg Kravis Roberts & Co LP.
The Montreal-based subscription software company said early Monday KKR would pay $5.80 in cash per share, 58 per cent higher than its previous closing price. The deal values mdf at $255-million. The stock jumped on the news. It closed Tuesday at $5.68 a share.
Like many tech companies, mdf’s stock sold off sharply after spiking during the pandemic and was gradually recovering. Meanwhile, private capital firms, flush with cash, have been eager to deploy their resources to buy solid companies at more reasonable prices than levels seen in 2020 and 2021.
The deal follows a slew of privatizations of TSX-listed tech companies that saw six of the 20 companies in the sector that went public in the first two years of…
