The Caisse de dépôt et placement du Québec is investing in Vooban, a Quebec-based supplier of applied artificial intelligence services.
The investment will aid Vooban’s growth through expansion plans in Ontario and the U.S, according to a press release, which noted the company currently has 135 employees, but is planning to expand by 30 per cent. The financial details of the transaction weren’t disclosed.
“Vooban has an enviable position in a booming sector and we are delighted to be supporting them as they expand so that businesses will have even greater access to AI services,” said Kim Thomassin, executive vice-president and head of Quebec at the Caisse, in the release.
In other news, the Ontario Municipal Employees’ Retirement System is acquiring a majority stake in construction firm Knight Commercial.
The Texas-based company, which provides mitigation, reconstruction and roofing services to leading commercial property owners and asset managers, has 12 facilities across the U.S. The financial details of the transaction weren’t disclosed.
“We look forward to partnering with the entire team at Knight Commercial to further accelerate the company’s growth, leveraging the broader network of OMERS’ people, assets and capital,” said Eric Haley, the pension fund’s head of North America, in a press release.