Tecsys Inc. a Montreal-based supply chain management software company, today announced its acquisition of PCSYS A/S, a Danish technology company. Founded in 1990, PCSYS is a leader in Europe when it comes to software and hardware solutions for warehouse management, transportation management, and labelling systems. The organization supports more than 1,000 companies on their journey to achieve supply chain excellence by using robust technology to manage ever-changing requirements and introduce new productivity and cost-saving strategies.
Tecsys has been building global momentum in new markets and industries in recent years, notably with the November 2018 acquisition of OrderDynamics. In addition to acquiring this leader in retail distributed order management software, Tecsys also launched a new brand identity and purpose in January 2019.
Tecsys purchased 100% of the shares of PCSYS for an aggregate purchase price of DKK (Danish Krone) 67.0 million (approximately C$13.7 million), subject to adjustments. Tecsys funded the purchase price with a bank term loan of C$12.0 million and existing cash. PCSYS had revenue and operating profit for its fiscal year ended September 30, 2018 of DKK 75.3 million (approximately C$15.4 million) and DKK 9.0 million (approximately C$1.8 million), respectively. Tecsys expects the acquisition to be immediately accretive to operating profit, based on PCSYS’ historical financial results.
Vector Institute Offering Scholarships to Candidates Applying to AI Master’s Programs in Canada
Posted in Commentary with tags Vector Institute on February 1, 2019 by itnerdThe Vector Institute will award up to 115 scholarships to meritorious students who pursue a full-time AI-related master’s degree in the 2019-20 academic year in the province of Ontario, Canada. Scholarships will be awarded to students in both core technical programs and complementary fields such as business and health care. Graduates are highly sought after to work in leading startups and enterprises to help harness the full potential of AI to benefit the economy and our lives.
Canada, the birthplace of deep learning, has been at the forefront of AI advancements for decades thanks to pioneering researchers like Geoffrey Hinton, Yoshua Bengio, and Richard Sutton. The new Vector Scholarship in Artificial Intelligence aims to attract top students to learn from some of the world’s best faculty based in Toronto, Ontario and across Canada.
To be considered for the 2019-20 Vector Scholarship in Artificial Intelligence students must:
Scholarships are valued at $17,500 CAD for one full year. All scholarship winners and students enrolled in Vector-recognized master’s programs become part of the Vector Institute’s network of students, faculty, and employers who share a passion for collaborating to advance AI research and applications.
There has never been a better time to pursue an AI-related education and career in Canada. Having launched the world’s first national AI strategy, Canada is committed to training and seeding an AI workforce that has already incented major corporations like Amazon, DeepMind, Google Brain, Microsoft Research, NVIDIA, Samsung Research, and Uber ATG to set up Canadian labs. Between 2012-2017, more tech jobs were created in Toronto than in San Francisco, Seattle and Washington combined.
Canadian cities rank among the top when it comes to quality of life including safety, healthcare and quality of education. Canada embraces diversity and welcomes economic immigrants and international students who can become permanent residents and citizens. Toronto, Ontario’s capital, is the most multicultural city in the world with over 50% of its population born outside of Canada.
Candidates interested in pursuing a Vector Scholarship in Artificial Intelligence can find eligibility and application details online at vectorinstitute.ai/aimasters.
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