[Betakit] Intelex to be acquried by Industrial Scientific in massive $570 million USD deal
Mark Jaine, Former President and CEO of Intelex Technologies will be speaking at TechExit.io Toronto on April 29, 2020.
Toronto-based Intelex Technologies, an Environmental, Health, Safety and Quality (EHSQ) SaaS company, has been acquired for $570 million USD by Industrial Scientific, a connected sensing technology company that creates software for worker safety.
Intelex will be acquired from JMI Equity and HarbourVest, and the company said it will represent one of Canada’s five largest tech company exits in the last ten years. The transaction is expected to close late in the second quarter or early third quarter of this year, and Intelex will operate as a stand-alone company within the umbrella of Industrial Scientific. Intelex said the acquisition will allow the company to extend its reach into new markets around the world and create a nerve centre for EHSQ 4.0 automation.