MONTREAL — The Quebec government says it is investing in cloud software company AppDirect as part of a deal the government says will create 730 jobs in Montreal.
The province will provide AppDirect Canada with a loan of at most $54.8 million through Investissement Quebec, allowing the company to grow its presence in the city.
“AppDirect sends a strong signal by choosing Montreal,” Quebec Premier Francois Legault said in a statement. “It sends the signal that Quebec is one of the best places in the world to invest in information technology, which reinforces our metropolis’ status as an innovation hub in North America.”
The Quebec government’s announcement follows news of other technology companies expanding their footprints in Montreal. Tata Consultancy Services said this week that it would open a new office in downtown Montreal and hire 500 employees. Similarly, in January, SAP Canada Inc. announced an investment in a new downtown office and an expansion of 30 employees in the city.
AppDirect currently has around 800 employees, of which 190 are already based in Montreal, the government said. The expansion will make Montreal the site of AppDirect’s Canadian headquarters, with more than half of the company’s total workforce, the government said.
Headquartered in San Francisco, AppDirect was founded about a decade ago by Daniel Saks and Nicolas Desmarais, the son of Power Corp. of Canada chairman Paul Desmarais Jr.
“With a larger presence in Montreal, we are confident that we will find the talent and ideas that will allow us to continue to grow, drive innovation and be a leader in subscription commerce,” Saks said in a statement.
AppDirect offers a platform that allows businesses to more easily manage sales, through services like billing management and customizable layouts for online marketplaces. To date, the company has raised nearly $500 million from investors including the Caisse de depot et placement du Quebec.
This report by The Canadian Press was first published March 18, 2021.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
