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  6. TORC Robotics Acquires Algolux

M&A Deal Summary

TORC Robotics Acquires Algolux

On February 28, 2023, TORC Robotics acquired software company Algolux

Acquisition Highlights
  • This is TORC Robotics’ 1st transaction in the Software sector.
  • This is TORC Robotics’ 1st transaction in Canada.
  • This is TORC Robotics’ 1st transaction in Quebec.

M&A Deal Summary
Date 2023-02-28
Target Algolux
Sector Software
Buyer(s) TORC Robotics
Deal Type Add-on Acquisition

Target

Algolux

Montréal, Quebec, Canada
Algolux is a computer vision company addressing the critical issue of safety for advanced driver assistance systems and autonomous vehicles. Algolux machine-learning tools and embedded AI software products enable existing and new camera designs to achieve industry-leading vision performance across all driving conditions. Algolux was founded in 2015 and is based in Montréal, Quebec.

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Buyer(S) 1

Buyer

TORC Robotics

Blacksburg, Virginia, United States
Category Company
Founded 2005
Sector Technology Hardware
Employees100
DESCRIPTION

Torc Robotics offers a complete autonomous software solution for mobility applications including self-driving cars and transit vehicles by working with partners in automotive, transit and technology. Torc also provides self-driving technology in safety-critical applications, including defense, mining, and agriculture.

DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Quebec M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2023 M&A 1 of 1
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