Ottawa Business Journal 20160104

Mayor’s Breakfast Series

Good things brewing Ontario government’s move to allow beer on grocery store shelves could be a boon to craft brewers such as Kichesippi > PAGE 6

Bank of Canada governor Stephen S. Poloz

Jan. 7, 2016, 7- 9AM EST TICKETS: info@ottawachamber.ca

January 4, 2016 Vol. 19, NO. 5

EMPLOYEES’

CH ARICDSE

AW 16 2015-

DETAILS ON PAGE 13

For daily business news visit obj.ca

Building anxiety?

Office vacancy rates are projected to rise a bit in 2016, but some experts say that can have positive effects. > PAGES 2-3

Winning ventures

VC investors are bullish on Ottawa’s tech scene, and IPOs could soon follow, observers say.

CellWand CEO Nick Quain says the company’s new app, The Ride, is taking the taxi-hailing concept to a whole new level. PHOTO BY MARK HOLLERON

Firm’s top exec enjoying The Ride

> PAGES 10-11

Ottawa entrepreneur explains why product is more than just a response to Uber

Canada Post Publications Mail: Agreement No. 41639025

Former Forty Under 40 winner Nick Quain thinks customers will jump on board ‘the ultimate transportation app’ > PAGES 4-5

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REAL ESTATE ‘Room to grow’ in the core Downtown vacancy rates are projected to inch up slightly in 2016, but industry observers say that’s not necessarily a bad sign for the local economy

BY DAVID SALI david@obj.ca

MONDAY, JANUARY 4, 2016

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OBJ.CA

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ost analysts agree 2015 was a year of uncertainty in Ottawa’s commercial real estate sector, with a federal election and a topsy-turvy economy leaving everyone wondering where the market was headed.

Now that the dust has settled and Justin Trudeau’s Liberals are in power on Parliament Hill, the future is beginning to come into focus. But anyone expecting the new government to suddenly go on a hiring and leasing spree and reverse years of office downsizing in the core needs a reality check, according to experts looking ahead to 2016.

Even if the feds do decide to eventually bolster their workforce and add to their downtown footprint, it’s going to take time to set the wheels in motion, they say. And that almost certainly won’t happen this year.

“They just can’t hire 20,000 people back in any timely fashion,” says Darren Fleming, principal managing partner at Cresa Ottawa. “It just doesn’t work that way.”

Ottawa’s No. 1 downtown office tenant has been scaling back its presence for several years, the result of job cuts and a push toward more efficient use of office space under the federal government’s Workplace 2.0 initiative.

The Liberals appear ready to open the federal coffers a bit, but any resulting benefits to local commercial landlords will take “a while to trickle down,” says Shawn Hamilton, vice-president and managing director of CBRE’s Ottawa office.

While the feds might pull the trigger on a few small deals that were put on the back burner during the election campaign, the “air of optimism” many people in the industry say they are feeling right now won’t likely begin to bear fruit until at least 2017, he says.

CBRE’s 2016 projections back up his assessment. The brokerage predicts central Ottawa’s overall vacancy rate

will tick slightly upward to 9.5 per cent from about nine per cent, thanks largely to vacancy rates that hit more than 10 per cent in the class-B sector and a whopping 27 per cent among class-C buildings in the fourth quarter of 2015.

“The folks who are hurting right now are the B- and C-class landlords,” agrees Mr. Fleming, adding vacancy rates in those categories will likely get worse for owners before they get better.

The trend toward smaller desks and more open workspaces in both the public and private sectors means tenants who were previously paying in the ballpark of $30 per square foot for class-B and class-C offices suddenly don’t need as much space and can afford to lease class-A property in the $45 bracket, he explains.

“Right now tenants are saying, ‘Rather than being in 15,000 (square) feet of class-C space or B space, I can be in 10,000 feet of class-A space and pay about the same amount of total rent,” Mr. Fleming says. “This is what’s been happening. All of a sudden, being in these dingy old buildings in big, bulky, expensive spaces is just not working anymore.”

That could trigger a downtown renovation boom if owners of class-B and class-C offices get tired of waiting to fill them and decide to remodel or even rebuild them completely.

“We’re definitely seeing a complete change in the way office tenants house themselves,” Mr. Fleming says, noting the move toward smaller desks, more glass and natural light. “If a landlord doesn’t refresh their space, it just sits empty. Landlords are now definitely reevaluating how long they’re going to keep a space empty before they gut it.”

Bruce Wolfgram, vice-president of tenant representation at Primecorp Commercial Realty, agrees.

“There’s been some anxiety among developers over the last couple of years over what to do with B or C buildings which are not necessarily made for today’s market,” he says. “Some of these

Bona Building and Management’s 10-storey office tower at 140 Jeanne Mance St. (above) has been sitting empty since its completion waiting for tenants. Meanwhile, Place Bell at 160 Elgin St. (below) is in the midst of a multimillion-dollar renovation and is another prime piece of downtown class-A real estate with vacant space available for rent. FILE PHOTOS

Want to chat with Ottawa’s movers and shakers?

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WHAT TO WATCH IN 2016 LEBRETON FLATS “I think if we had Lansdowne times 10 on LeBreton Flats, we would have a state-of-the-art, awesome (project) that would rejuvenate the core and provide that live/work/play balance that we all talk about,” says Cresa Ottawa’s Darren Fleming, referring to the two shortlisted redevelopment proposals that both include an NHL arena for the site.

“Any other use there is a total joke.

We’ve got lots of museums. Bring the Sens downtown and they will do for the core what the (Canadian Football League’s) RedBlacks did for Lansdowne and that would be tremendous. Government as a developer to me doesn’t make a hell of a lot of sense. I pray that we’re not dumb enough to mess this up.”

A revitalized LeBreton Flats, Windmill Development Group’s Zibi project at the old Domtar lands and the imminent arrival of light rail could converge to be “powerful factors” in rejuvenating the western edge of downtown, says Shawn Hamilton of CBRE Ottawa.

“We’ll be watching with bated breath what happens there,” he said. “That could be an absolute defining jewel for the city.

I think that could really be the start of the new Ottawa.”

THE CONTINUED RISE OF “URBAN TECH” “We’re starting to get the hints that there’s a halo effect around Shopify or a critical mass starting to develop in the core,” says Mr. Hamilton, referring to emerging tech leaders with major operations in Ottawa such as data networking solutions provider CENX and business analytics software maker Klipfolio that have chosen to set up shop in Centretown. “I think that should start slowly to attract more interest in the downtown core that will hopefully pick up momentum.”

—

SHAWN HAMILTON, VICE-PRESIDENT OF CBRE OTTAWA

buildings can be retrofitted.”

Further clouding the picture, a number of class-A properties in the core are either being refurbished or are losing major tenants, notes Mr. Fleming.

For example, H&R REIT has almost finished its multimillion-dollar makeover of Place Bell at 160 Elgin St., which currently has tens of thousands of square feet of vacant space available for rent.

“That building needed an upgrade, but once it has it, will it be competitive?” Mr. Fleming says.

Meanwhile, Gillin Engineering & Construction will be looking for a new tenant at 234 Laurier Ave. W., where it is leasing 150,000 square feet of space to the Bank of Canada while the central bank’s headquarters are being renovated.

“Shortly, they’re going to be marketing it,” he says. “The question is, who’s going to go there? That’s a class-A building with a huge piece of upcoming vacancy.”

Just outside the downtown core, 275,000 square feet of practically brand new class-A space still sits empty in Bona Building and Management’s 10-storey office tower at 140 Jeanne Mance St. Although the federal government has long been rumoured to be Bona’s No. 1 target, the company might be willing to throw incentives at alternative tenants to pry them away from downtown buildings such as the World Exchange Plaza, Mr. Fleming suggests.

“If it is, and you’re the World Exchange Plaza, how low will you bring your rent to avoid them leaving? That’s what these outlying, one-off problems do to the market. They create this uncertainty.”

But such volatility can also be a positive, Mr. Hamilton and Mr. Wolfgram argue, because it opens up opportunities for fledgling private-sector organizations to get their legs under them.

They noted the growing presence in the city of Regus, a Luxembourg-based company that offers flexible leases on fully furnished office space to clients ranging from small startups to multimillion-dollar companies.

Regus recently opened its third location in Ottawa at 116 Albert St., a “good thing” in Mr. Wolfgram’s mind.

“It means there’s more and more small companies percolating out there,” he says.

Mr. Hamilton intreprets Regus’s expansion as proof the city’s core is on the rebound.

“That tells me that they see the

strength of Ottawa and they see the strength of business coming to Ottawa,” he says. “Right now is the first time in maybe 20 years that we’ve had some room in the downtown core for something other than the government to happen. It’s the likes of Regus that allow

January 6, 2016 3:30 - 7:00 p.m.

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the footholds for companies to come to Ottawa and germinate into larger organizations.

“I think for the city as a whole, these higher vacancies aren’t necessarily a bad thing. They are going to be the space that allows new business to grow in the core.”

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CIENA CANADA’S KANATA EXPANSION Networking equipment maker Ciena announced last spring it was moving into the 173,000-square-foot former BlackBerry building on Innovation Drive in Kanata. The company, which employs 1,500 people in the capital, has also started construction on two new buildings next door that will total more than 250,000 square feet.

“Right now is the first time in maybe 20 years that we’ve had some room in the downtown core for something other than the government to happen. I think for the city as a whole, these higher vacancies aren’t necessarily a bad thing. They are going to be the space that allows new business to grow in the core.”

MONDAY, JANUARY 4, 2016

EMPLOYEE-DRIVEN OFFICE DESIGN “This means allowing employees to specify their desired space as part of their hiring,” says Primecorp Commercial Realty’s Bruce Wolfgram. “Talented workers are increasingly hard to find, as any company will attest to. Companies are becoming more aggressive in bringing in the talent they require. One way to do this is to build the space that appeals to the potential employee, rather than forcing the employee to fit into a model that the company had built for itself. This will mean a greater mix of workspaces along with shared spaces, cafes, et cetera. Ultimately, offices will become less cookie-cutter in their design.”

Check in at OBJ.CA for times and details.

TECHNOLOGY

CellWand’s Ottawa-based CEO Nick Quain shows his new app, The Ride. PHOTO BY MARK HOLLERON

App developer riding high Ottawa entrepreneur says latest product The Ride is much more than an Uber knockoff

BY TOM PECHLOFF

MONDAY, JANUARY 4, 2016

tom@obj.ca

OBJ.CA

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hen Toronto’s CellWand launched its new app The Ride late last year, many media reports dubbed it the taxi industry’s response to Uber.

However, the app is meant to be much more than that, says the company’s Ottawa-based CEO, Nick Quain.

“We really wanted to do something beyond taxi,” says Mr. Quain, an OBJ Forty Under 40 recipient in 2003. “We wanted to make the ultimate transportation app because people who take taxis often take other forms of transportation. Taxis is just an option they use at a particular time.”

For starters, The Ride not only lets users

hail a cab anywhere in the country, it is also the first app to show the location of every taxi stand in Canada, he says.

“If you walk out in downtown Ottawa, there are taxi stands on the corner and in a lot of these places, e-hailing a cab from us or a ride-hailing app often doesn’t make sense if you can walk 30 paces, look around a corner and see a cab stand with six cabs waiting there.”

The Ride will also help users plan bus or light rail routes if it turns out public transit is their best option. That means the app will sometimes give customers transportation alternatives that might not generate any revenue for CellWand.

But that is all part of the plan to expose the product to as wide an audience as

possible, Mr. Quain says.

“We want (customers) to use this app,” he says. “We want this to be their go-to app. There can be lots of circumstances where we don’t make money through an engagement with them, but that’s why they’re going to come back to us and use us.”

Where The Ride does make money is the $2 convenience fee for hailing a cab. It’s the same model CellWand uses for its phone service #TAXI, a one-stop phone number to order a taxi anywhere in the country.

Mr. Quain says his experience with #TAXI suggests customers don’t mind paying a convenience fee, adding he doesn’t think it will be a deterrent to users.

“A lot of people are pretty surprised to

learn that in Canada, we have had over 12 million calls to #TAXI and those people paid between $1.50 and $2.50 every time they used the service,” he notes.

Mr. Quain says people are already paying a premium for the convenience of taking a cab.

“We’re just making it more convenient,” he says, adding that convenience includes alerting the consumer to other options that might be better – and cheaper.

“You can walk to the local taxi stand or you can take transit or you can open up another app to compare it with our app.

Game on. Absolutely. We have no problem that,” he says.

CellWand launched #TAXI more than 10 years ago at a time when the taxi industry

“We wanted to make the ultimate transportation app because people who take taxis often take other forms of transportation.”

— NICK QUAIN, CEO OF CELLWAND

MONDAY, JANUARY 4, 2016

05 OBJ.CA

was not as prepared to adopt cutting-edge technology as it is today, says Mr. Quain.

“With #TAXI, it was a great solution for a lot of people, but it still wasn’t that really killer product that we wanted to build which would layer in all the features and functionality that The Ride has,” he says.

“Ride transparency” is an important function of the app, Mr. Quain says. Users can see when their order has been assigned to a cab and are given the driver’s name.

They can then track exactly where their taxi is and check its estimated time of arrival.

Mr. Quain says some cab companies were a little “cautious” about the app when they first saw it because they weren’t too happy to see it promote transit as well. But he adds that while the app might convince some potential taxi customers to take the bus, it can also work the other way.

“If we’re bringing (the taxi industry) thousands and thousands of orders for their fleet, that’s a good thing,” he says.

There’s a social component to The Ride as well, he argues, in an age when city planners are encouraging people to leave their cars at home.

The holiday season is also a time for the app to shine. CellWand has been a national sponsor of Mothers Against Drunk Driving for more than a decade, Mr. Quain says, and The Ride is now the group’s official taxi and transit app.

More features will gradually be incorporated into the app, he adds.

“We’re going to be layering in all sorts of different transportation options into this app beyond taxi and transit,” he says, noting that could include adding e-passes as transit authorities begin to make them available to third parties.

The Ride will also one day include other verticals, such as shuttle and ride-share services. Mr. Quain says he is also looking at ways to work with concert and live event promoters.

He says The Ride doesn’t mean the end of #TAXI, but he expects customers to gradually migrate from the phone line to the app.

“That’s a natural evolution.”

RETAIL

“The biggest issue for craft brewers has always been access to the customer. When you roll this out in terms of what it means for employment and investment into Ontario communities, it’s huge.” — STEVE BEAUCHESNE, CEO OF BEAU’S ALL NATURAL BREWING

GROCERY STORES IN OTTAWA LICENSED TO SELL BEER Brown’s Your Independent Grocer 1251 Main St. (Stittsville) Farm Boy 2030 Tenth Line Rd. Loblaws 1980 Baseline Rd. Metro 3201 Strandherd Dr. Real Canadian Superstore 760 Eagleson Rd. Sobeys 700 Terry Fox Dr. 840 March Rd. 193 Metcalfe St.

The brewery is now the largest in the city of Ottawa, producing about half a million litres a year.

“I think this is going to be a tremendous thing,” Mr. Meek says. “You’re not going to have the same variety you’re going to have in the Beer Stores and in the LCBOs. We will do well by being one of the limited (products) that they’re going to have. This is a convenience thing.”

Hintonburg’s Beyond the Pale, which runs close behind Kichesippi in overall volume, began selling its Pink Fuzz grapefruit wheat beer in four-packs at Farm Boy in December.

Co-owner Rob McIsaac says the Beau’s CEO Steve Beauchesne (left), shown with his dad Tim, says selling his beer in grocery stores will boost business. PHOTO COURTESY BEAU’S company is looking at expanding into Loblaws and Sobeys but isn’t planning to more than meet the initial demand and be boost its output for now. Beyond the Pale, ready for future growth as well,” he says. which employs 15 people, currently brews “We’re at about 150 employees at this point about 35,000 litres a month at its main and it’s going to add easily another 100 facility on City Centre Avenue. when it is fully rolled out.”

“Right now, with number of stores in It’s not just his operation that will benefit Ottawa (where beer is available), it’s not a from the ripple effects of the new sales huge channel for us, especially since we’re channel, he adds. in one store,” Mr. McIsaac says. “But we’re “That’s the wonderful thing about this,” excited to see it. It’s a move in the right Mr. Beauchesne says. “We’re one of 130 direction, for sure.” breweries in the province, spread out over a Beau’s, meanwhile, is being sold in 19 number of different towns of all sizes. When Loblaws stores across the province, as well astern Ontario’s craft brewers are – including eight in Ottawa – are licensed you roll this out in terms of what it means as at Farm Boy in Orleans, and the brewery primed for a wave of new growth now to sell singles, four-packs and six-packs of for employment and investment into is in talks with most of the other 39 stores that the province has allowed their beer. By May, it’s expected beer will be in Ontario communities, it’s huge.” that are currently licensed to sell suds. products on grocery store shelves, says the 150 supermarkets across the province, with Kichesippi Beer started rolling out sixMr. Beauchesne says while he expected CEO of the region’s largest producer. that number eventually climbing to 450. packs of its Natural Blonde and Kichesippi Loblaws to carry the brewing company’s Steve Beauchesne of Beau’s All Natural Beer will be the same price as at the Beer 1855 brands and single cans of its Heller signature Lug-Tread brand, he was pleased Brewing says selling his beer in Ontario Store and LCBO outlets.

Highwater brew at Farm Boy on Tenth to see the grocery chain pick up Beau’s Tom supermarkets will eventually translate “This is kind of the starting point,” Mr. Line Road in mid-December, with plans Green Beer and Kissmeyer Nordic Pale Ale into at least 100 new jobs at the company’s Beauchesne says. “The biggest issue for to debut on Loblaws shelves later in the as well.

Vankleek Hill facility. craft brewers has always been access to the month and at Sobeys and Metro in January.

He applauds the Loblaws’ pledge to “When it’s fully rolled out, we can customer.”

Founder Paul Meek says he recently devote 50 per cent of its shelf space to craft expect this to come close to doubling With that access now widening boosted production space by 25 per cent brews. our sales through the retail channel,” Mr. considerably, he says Beau’s is investing to to 7,500 square feet in anticipation of “As they expand, they’re committing to Beauchesne says. “Obviously, it’s going to meet growing demand. increased demand. He also expects to add keeping that (ratio) and I think that’s huge,” take some time.”

“This spring we’ll be adding, I believe, to his firm’s head count of 21 once he gets a he says.

For now, 58 stores across the province six new fermenters and should be able to better sense of how sales are trending.

– OBJ staff

Craft brewers cheer grocery sales

MONDAY, JANUARY 4, 2016

Local beer producers eye expansions, new hiring after brands debut on supermarket shelves

OBJ.CA

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COMMENTARY Supermarket six-packs empty of savings Ontario’s decision to allow beer sales in grocery stores a meaningless gesture, Michael Prentice says

MONDAY, JANUARY 4, 2016

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rice fixing by retailers is a dastardly practice punishable by law. So why do we allow our national and provincial governments to get away with it?

You would think it is good news for consumers that a few select grocery stores in Ontario are now permitted to sell beer.

But you would be wrong.

The Ontario government’s decision to allow beer sales in some supermarkets is an empty, almost meaningless gesture, shamelessly presented by the government as a favour to beer drinkers. The Wynne Liberals are doing consumers no favour.

What’s the point of adding a few points of sale if the province dictates that every beer retailer in Ontario must charge the same prices?

The sale of beer in Ontario is a nearmonopoly. Up to now, most consumers have had only two options for where to buy it. These are The Beer Store, a chain operated by three mammoth beer companies, and the provincial government’s wine-and-spirits stores run by the Liquor Control Board of Ontario.

In extending beer sales to some grocery stores, starting in 2016, the Ontario government announced: “The price of beer will be the same across all retail outlets – grocers, the LCBO and The Beer Store.” The government says on its website: “Prices will remain below the Canadian average while improving convenience and increasing choice to customers.”

Even if the government is truthful in saying Ontario beer prices are below the Canadian average, that’s not saying much.

Most other provinces encourage similar gouging of consumers in the sale of wine, beer and liquor.

It’s outrageous that the provincial government is conspiring with big beer companies, and now grocers, to fix prices. You can’t blame the grocers, who have no say in the matter. Big beer companies, on the other hand, seem happy to overcharge their customers. The government has made no serious effort to defend this indefensible practice, beyond claiming – lamely – that high prices deter consumption and curb alcoholism and alcohol-related illness and death.

Right now, about 60 grocery stores across Ontario are permitted to sell beer.

In a few years, the number is expected to rise to 450. Among the retailers selling

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It’s outrageous that the provincial government is conspiring with big beer companies, and now grocers, to fix prices. You can’t blame the grocers, who have no say in the matter. Big beer companies, on the other hand, seem happy to overcharge their customers

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beer are Farm Boy, Loblaws, Sobeys and Walmart.

Ontario’s government recently amended its liquor laws in an apparent attempt to protect itself against any lawsuits claiming it is guilty of artificially inflating prices of beer, wine and spirits.

One change permits the LCBO and The Beer Store to sell to restaurants and bars at higher prices than those charged to individual customers.

Is there anything consumers can do about the Ontario government’s beer price fixing? Well, if you live in Ottawa, you can always slip across the Ottawa River and buy your beer in Quebec.

Can you save money this way? You might, but you will probably not save much – and you definitely will not save as much as some Ontarians who buy their beer in Quebec claim.

Cross-border price comparisons are complicated by the fact The Beer Store and Ontario liquor stores display prices that include federal and provincial taxes, while Quebec stores display prices before tax. Ontario’s combined tax rate is 13 per

cent. Quebec’s is higher at 14.975 per cent.

I checked prices of three popular beers: Budweiser, Molson Canadian and Rickard’s Red. And I compared the Ontario Beer Store’s prices with those at a Costco, an IGA and a Quickie convenience store in Gatineau.

The Gatineau Costco, a shopping club that requires a membership fee of a bit more than $1 a week, had the lowest prices. It was about $2 lower than The Beer Store for a 24-pack of Budweiser or Molson Canadian and about $8 lower for a 24-pack of Rickard’s Red. In comparing The Beer Store’s prices with those at the Gatineau IGA and Quickie stores, I detected no clear pattern.

Still, it felt good to pick up a 24-pack of Rickard’s Red and know that I had kept $8 out of the hands of those price fixers in Ontario.

Michael Prentice is OBJ’s columnist on retail and consumer issues. He can be contacted at news@obj.ca.

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CONSTRUCTION Gatineau condo project sparks new controversy

BY HALEY RITCHIE Special to OBJ

A

controversial condo project in Gatineau is facing another obstacle after a nearby private school announced it would not sell part of the land planned for development.

Brigil’s Place des Peuples proposal, which has not yet been brought to city council, would involve two massive condo towers constructed on rue Laurier just north of the Canadian Museum of History.

The developer was hoping to obtain a parking lot owned by the College SaintJoseph de Hull as part of the project.

But board members of the college told Le Droit newspaper last month that the school never agreed to sell the lot to the developer.

Board president Nicole Paquin said the massive towers would undermine the heritage feeling of the neighbourhood, adding construction activities would threaten enrolment at the school and the board is not planning on selling the land

or relocating the campus.

Brigil spokesperson Yves Ducharme said the project will still continue.

“It’s half a lot and it would have allowed us to bring the main tower back towards Notre Dame Street,” said Mr. Ducharme.

“We would have liked to use it, but we will just advise our architects to proceed as needed. We’re just going to push forward the tower.”

Mr. Ducharme said that rather than ruin the area, the towers would help protect the historically significant neighbourhood by making it a destination for tourists, shoppers and new residents.

The project has yet to receive the go-ahead from Gatineau’s city council.

The official proposal is expected to go to council this month.

An online petition has gathered close to 1,000 signatures in support of the project. The property is expected to bring in $8 million per year in tax revenue.

(This article originally appeared on metronews.ca on Dec. 16.)

2016

POST-BUDGET BREAKFAST The highly-anticipated federal budget will be released in a matter of weeks. What will it mean for business? What will it mean for Canada?

What will it mean for Ottawa?

Gain insights on business, tax and economic measures and determine what it means for you.

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Watch ottawachamber.ca for event details.

MONDAY, JANUARY 4, 2016

Stay tuned for more information on this mustattend breakfast.

FINANCE recognizing Canada’s strengths.

Companies that will be especially worth watching are those in the enterprise software-as-a-service marketplace, he says. Funds are seeing lots of potential in Ottawa software startups such as The Better Software Company, Kivuto, Klipfolio and PageCloud.

But while local firms are flush with investment, observers say the city is still at least a few years away from a highly anticipated influx of initial public offerings.

Earlier this year, Toronto-based firm Kensington Capital Partners declared Ottawa ripe for IPOs in 2015. But as in previous years, only one prediction actually panned out.

Several years of growth among some of Ottawa’s hottest tech startups, however, have hinted at a possible tipping point at which several tech firms would make initial public offerings close together. The sector doesn’t look to have reached that point yet, but experts predict it might get there soon.

The tech startup community in Ottawa has several soon-to-be heavy hitters in its roster, but none as big as Shopify was at the time of its IPO this past May, says Ms. Weinstein.

Venture capital firms have “refocused” on Ottawa’s tech industry, says Debbie Weinstein of LaBarge Weinstein LLP. PHOTO BY MARK HOLLERON “There’s no unicorn,” she says, though a couple are “definitely” on a trajectory to grow from $25-million or $50-million valuations to between $200 million and $300 million over the next one to three years, she adds. At least a couple are already on the edge of an IPO, says Bruce Lazenby, chief executive of Invest Ottawa.

Still, experts who spoke to OBJ stopped short of naming exactly what those select companies that are closing in on the public market might be.

“We’re starting to see a really nice ($15 million).

Conventional wisdom suggests that a volume of critical mass,” he says.

Ottawa should continue to see a company should reach a bare minimum Klipfolio’s recent breakout is one of “good pace” of financing, especially valuation of $10 million before filing for several similar stories across Ottawa’s for early-stage firms – this year saw a an IPO, but these days companies are bubbling software sector. Investors lot more momentum in terms of angel looking for much, much higher numbers are more bullish on the city’s tech investing – with more venture capital before they go public, says Mr. Lazenby. community than they have been in funds moving into the city for the first That’s partially because there is more

BY ADAM FEIBEL years, and several experts are predicting time, Debbie Weinstein of LaBarge private equity available, so they don’t adam@obj.ca that a continued rise in venture capital Weinstein LLP predicts. need to rush toward an IPO, he says. They infusions in 2016 could result in a long“Suddenly, venture capital has can wait, like Shopify did, until they’re llan Wille’s company is coming off awaited IPO boom near the end of the refocused on Ottawa,” she says. a multibillion-dollar company before yet another banner year. The way decade as a number of companies chase Ron Warburton, managing partner emerging on the public market. (Shopify’s it’s looking, that’s not about to a coveted Shopify trajectory over the next at BDC’s IT Venture Fund, says that’s a deliberation paid off in a $131-million change in 2016. few years. trend that appears to be continuing into opening, Ottawa’s most successful since Fresh off a $6.2-million series-A By the end of 2015’s third quarter, 2016.

Mitel in 2010.) financing round in February, his OttawaCanada-wide venture capital financing “I think we’re going to see some Mr. Wille says an IPO is “definitely” based business dashboard software had reached $1.1 billion, already more B rounds,” says Mr. Warburton, something about which Klipfolio has provider Klipfolio increased its customer surpassing the total from all of 2014. whose fund manages $30 million in thought seriously. base by 60 per cent from last year to 4,000 Locally, this is a new development – it 43 investments across Canada, several “We’re on the same path,” he says. clients. The company expects to roughly was only in 2013 that Ottawa noted the of them based in the National Capital “If we could accelerate, … get to a place double its growth in the new year. return of the venture capitalist, when Region. “But at the same time, there’s where we have hundreds of thousands Mr. Wille says Klipfolio is accelerating observers’ outlooks became a lot brighter going to be a continuation of more seed of customers like other (software-as-atoward the monthly recurring revenue than they once were. rounds, more A rounds, and now as these service) players, I think we could totally territory of between $400,000 and Local companies brought in upwards companies mature, more B rounds.” be on track to do an IPO,” although he $500,000 that will likely lead to series-B of $100 million in VC financing in 2015, Mr. Warburton says there has been a adds that’s still a couple years away. financing within the next 12 to 18 with some of the biggest rounds by significant increase in Canadian venture If and when they do go public, months, although the amount or strategy Corsa Technology ($16.5 million), GaN capital money available to invest. At Canadian tech firms appear to be having have not been finalized.

Systems (US$20 million) and You.i TV the same time, more U.S. funds are a generally better outlook on the stock

Investors bullish on Ottawa tech scene

MONDAY, JANUARY 4, 2016

Momentum building for future wave of IPOs, industry observers say

OBJ.CA

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A

Be in the know. Stay up-to-date on the latest local business news at VENTURE CAPITAL FUNDING IN 2015 FEB. 9 Gymtrack, $2.5 million, led by White Star Capital and Real Ventures, with additional support from 500 Startups and BDC Capital.

FEB. 25 Klipfolio, $6.2 million, led by OMERS Ventures, joined by existing investors BDC Capital, Mistral Venture Partners, FundFire, BOLDstart Ventures, Acadia Woods Partners and Converge Venture Partners.

“I think it’s going to be a great year for a lot of these companies to continue to grow, so that we can get a whack of potential IPOs in 2017, 2018 to 2019. I think we’re setting ourselves up wonderfully for the end of this decade.” — RON WARBURTON, MANAGING PARTNER AT BDC’S IT VENTURE FUND

MARCH 17 PageCloud, $2.2 million, from MaRS Investment Accelerator Fund, Export Development Canada, Tobias Lütke of Shopify, Sarah Imbach formerly of LinkedIn, and more than a dozen others.

MARCH 18 Interset, $10 million, led by Toba Capital and joined by fellow California investors Informatica and Anthem Venture Partners and Montreal’s Telesystem.

MARCH 20 Corsa Technology, $16.5 million, led by Toronto’s Roadmap Capital and joined by existing investors Celtic House Venture Partners, BDC Capital and a strategic tech company.

APRIL 7 Solantro Semiconductor, $11 million, led by existing investors Black Coral Capital, Presidio Ventures, Clean Energy Venture Group, BDC Capital and Export Development Canada, plus a new investor, Inerjys.

MAY 7 GaN Systems, US$20 million, led by Montreal’s Cycle Capital Management and joined by BDC Capital, Beijing-based Tsing Capital and existing investors Chrysalix Energy Venture Capital from Vancouver and Boston’s RockPort Capital.

AUG. 11 CENX, $12.5 million, from existing investors Highland Capital Partners, Mesirow Financial Private Equity, Verizon Ventures, Ericsson, DCM Ventures and Cross Creek Advisors, plus new investment from BDC Capital, Mistral Venture Partners and VMware.

SEPT. 14 You.i TV, $15 million, led by Los Angeles-based Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors L.P.

NOV. 10 The Better Software Company, $1.35 million, led by ff Venture Capital along with Mistral Venture Partners and other hometown angel investors.

exchange than in years past. A recent report in the Globe and Mail suggests Canadian tech valuations are rising from their historically discounted share prices compared with their U.S. counterparts, listing recent IPOs by Shopify in 2015 and Kinaxis in 2014 as examples of companies that have traded unprecedentedly well.

You.i TV is another Ottawa company that has been on many people’s watch list of late. Last year, the user experience software designer – responsible for online TV streaming apps commissioned by Shomi, Corus Entertainment, Sony’s Crackle and more – hosted Ottawa’s third-largest financing round of the year.

That allowed the company to close contracts with two major tier-one clients from the United States, which will be announced as early as January.

Chief executive Jason Flick sees the firm doubling its staff and revenue again in 2016, for the eighth year in a row.

After at least one more venture capital round – which will seek “multiples” of the company’s September haul, about 16 months or longer from now – Mr. Flick says he too sees an IPO as an eventual possibility. With the You.i TV logo on splash screens for Disney, Nickelodeon and YTV apps, the company has quickly been gaining brand recognition.

“We are going to build a bit of a consumer brand, which does lead toward being much more viable than others for an IPO,” Mr. Flick says. “But there are a lot of variables in that. I’m certainly not going to do it too soon.”

He says a handful of other Ottawa companies just need $5 million to $15 million invested before

11 OBJ.CA

2015: Shopify (TSX: SH; NYSE: SHOP), $131 million 2014: Kinaxis (TSX: KXS), $100.6 million 2013: Halogen Software (TSX: HGN; NASDAQ: HGENF), $55 million 2013: Magor (TSX-V: MCC), $5.9 million 2010: Mitel Networks (TSX: MNW; NASDAQ: MITL), $147.4 million 2007: DragonWave (TSX: DWI; NASDAQ: DRWI), $32 million 2007: Bridgewater Systems, $35 million 2006: RAMTelecom, $2.5 million 2006: Corel, US$69 million

Klipfolio founder Allan Wille’s company enjoyed a banner 2015, raising millions in venture capital funding and boosting its customer count by 60 per cent. FILE PHOTO

they become the next billion-dollar company.

Mr. Lazenby notes that venture capital firms such as Celtic House and Mistral have made recent investments in local firms and are both looking favourably at other opportunities in the city to complete their next financial round.

“Investors follow investors,” he says. “And once a company opens their eyes to a city, they have a tendency to look around and see what else is there.”

Startups also tend to be receiving more followons for their deals, says Thomas Forr, who led a 2015 overview report on Canada’s tech sector as national research co-ordinator for commercial real estate firm JLL. “You’re starting to see investors going into second, third and fourth rounds of venture capital, and I would expect that’s going to continue across the markets in Canada,” Mr. Forr says.

But although the venture capital space has continued to heat up, investors might not remain quite as bullish as they have been for long.

Some observers told the Globe and Mail in October they expect a pullback in the new year as cash inflow is quickly raising valuations and venture capital firms “are starting to proceed with caution.” Mr. Wille predicts the smaller seed rounds will likely stay at the same level, but the slightly larger companies will have a more difficult time getting series-A or series-B levels of investment.

Investors are looking twice before putting their cash somewhere new.

Some young firms might be able to fall back on help closer to home. Mr. Lazenby says there has been significant reinvestment of both cash and wisdom into new companies by CEOs who have recently grown their own firms to a liquidity event.

Tobias Lütke of Shopify, for example, has backed the web design software builder PageCloud, one of Ottawa’s most talked-about companies these days.

“There’s a lot of new and smart money being put back into the ecosystem,” says Mr. Wille, echoing Mr. Lazenby’s assessment.

For now, most of Ottawa’s buzz-worthy tech companies are expected to continue consistent growth levels. They will likely also feed off each other’s energy in order to work toward banner years ahead, propelled by an increasingly centralized talent force that’s gathered in the close quarters of the downtown core, particularly in the burgeoning ByWard Market startup space. Observers predict these firms will eventually exit either through acquisitions or public debuts.

“I think it’s going to be a great year for a lot of these companies to continue to grow, so that we can get a whack of potential IPOs in 2017, 2018 to 2019,” says Mr. Warburton.

“I think we’re setting ourselves up wonderfully for the end of this decade.”

MONDAY, JANUARY 4, 2016

TECH IPOs FROM OTTAWA COMPANIES IN THE LAST 10 YEARS:

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RETAIL Buying in to Nordstrom Seattle-based fashion retailer says move into Ottawa market has been ‘really positive’

we heard is that we had some opportunities to increase the speed of transactions where we ship merchandise to customers and are focused to make it more convenient for them. We hope that customers here in Ottawa will continue to let us know what we can improve upon so we can make changes in real time.”

S

eattle-based Nordstrom’s expansion into the Ottawa market last April was one of most anticipated retail debuts in the capital in years, earning retail deal of the year honours at the 2015 Best Ottawa Business Awards.

The chain’s local store manager John Banks recently took time out from his busy holiday season schedule to offer his thoughts on Nordstrom’s first nine months of operation in Ottawa.

OBJ: First of all, what are your overall impressions of business so far? Have sales been what you’ve expected?

JB: “The customers’ feedback to our Rideau Centre store has been really positive.

We’ve enjoyed meeting customers and developing relationships with them. We’re still new to Ottawa and our success depends on giving great service. We have to work hard each day and every transaction is an opportunity to earn their business.”

Nordstrom manager John Banks. FILE PHOTO

OBJ: Has the store had to make any adjustments to product lines, merchandise or service offerings in response to particular needs or requests in the Ottawa market? If so, what are they?

JB: “We’re always listening and learning from our customers and appreciate their feedback about how Nordstrom can serve them best. Overall, customers have been responding really well to women’s apparel, handbags, cosmetics, our food offerings and our Nordstrom exclusive brands. One thing

OBJ: What will the new expansion to the Rideau Centre in 2016 mean for Nordstrom?

Do you expect it will have an impact on customer traffic?

JB: “We’re excited for all the new additions to Rideau Centre. We hope that the new stores will help bring even more customers to the centre. We like competition because it means that we have to work harder at earning our customers’ business. It raises the bar for everyone.”

OBJ: Any particular brands that are selling especially well? Are there any particular demographics the store is especially popular with?

JB: “Some of the brands that have been popular with our customers include Burberry, Ted Baker London, Kate Spade New York and Hugo Boss.”

OBJ: Was Ottawa on Nordstrom’s radar for a while before you opened the Rideau Centre store?

JB: “We want to be part of the best retail locations, and Rideau Centre is the premier shopping destination in Ottawa. We’re pleased that the opportunity became available so that we could serve Canadian customers closer to home.”

OBJ: Has the company noticed any significant differences in consumer buying trends, spending habits, et cetera, between Canada and the U.S.?

JB: “We’ve found that customers, no matter where they live, appreciate compelling fashion and great service. We’re working hard to deliver both to our Canadian customers.”

OBJ: What about the city made it a good opportunity? And why the Rideau Centre in particular?

JB: “Ottawa is a wonderfully diverse, exciting city as well as our nation’s capital. It’s rich in culture and we have certainly enjoyed getting to know customers here. Rideau Centre is one of the top retail locations in Canada.”

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THE LIST 1 2 3 3 4 4 5 6 7 8 8 8 9 10 10

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Company Name Address, City, Postal Code Phone / Fax Web site Primecorp Commercial Realty Inc.* 301-275 Bank St. Ottawa, ON K2P 2L6 613-722-2020 / 613-722-9898 primecorp.ca CBRE Ltd.* 333 Preston St., 7th Fl. Ottawa, ON K1S 5N4 613-782-2266 / 613-782-2296 cbre.ca Colliers International 930-340 Albert St. Ottawa, ON K1R 7Y6 613-567-8050 / 613-567-8035 colliers.com/ottawa Royal LePage Commercial* 165 Pretoria Ave. Ottawa, ON K1S 1X1 613-238-2801 / 613-238-4583 royallepageottawacommercial.ca Century 21 Explorer Realty* 23-2525 Carling Ave. Ottawa, ON K2B 7Z2 613-253-4253 / 613-257-2593 century21explorer.ca Cushman & Wakefield Ottawa 700-99 Bank St. Ottawa, ON K1P 6B9 613-236-7777 / 613-236-5958 cwottawa.com Avison Young Commercial Real Estate (Ontario) Inc. 45 O’Connor Street, Suite 800 Ottawa, ON K1P 1A4 613-567-2680 / 613-567-2671 avisonyoung.com CLV Realty Corp.* 485 Bank St. Ottawa, ON K2P 1Z2 613-728-2000 / 613-728-1107 clvrealty.com Royal LePage Team Realty 200-1335 Carling Ave. Ottawa, ON K1Z 8N8 613-725-1171 / 613-725-3323 commercial.teamrealty.ca Cresa Ottawa 1000-130 Slater St. Ottawa, ON K1P 6E2 613-688-7200 / 613-688-7201 cresa.com/ottawa Decathlon Commercial Realty Corp.

17 Saddlebrook St. Ottawa, ON K2G 5N7 613-725-7170 / 613-228-0650 decathlon.ca/Ottawa The Regional Group of Companies Inc. 1737 Woodward Dr., 2nd floor Ottawa, ON K2C 0P9 613-230-2100 / 613-230-9880 regionalgroup.com Plant Your Flag Commercial Real Estate Services 251 Laurier Ave. W., 9th floor Ottawa, ON K1P 5J6 613-696-0177 / 613-566-7000 plantyourflagnow.com Keller Williams Solid Rock Realty* 110-1 Antares Dr. Ottawa, ON K2E 8C4 613-733-3434 / 613-733-3435 kwsolidrock.com Coldwell Banker First Ottawa Realty* 2 Hobin St. Ottawa, ON K2S 1C3 613-831-9628 / 613-831-9626 firstottawarealty.com Jones Lang Lasalle Real Estate Services Inc. 1004-275 Slater St. Ottawa, ON K1P 5H9 613-656-0145 / 613-288-0109 jll.ca Cancorp Realty Inc.* 5-2100 Thurston Dr. Ottawa, ON K1G 4K8 613-233-3333 / 613-248-8131 cancorprealty.com Devencore Real Estate Services Ltd. 150 Metcalfe St. Ottawa, ON K2P 1P1 613-235-1330 / 613-235-1350 devencorenkf.com District Realty Corp.

50 Bayswater Ave. Ottawa, ON K1Y 2E9 613-759-8383 / 613-759-8448 districtrealty.com Metro Suburban Realty Ltd. 302-370 Churchill Ave. N. Ottawa, ON K1Z 5C2 613-723-2222 / 613-723-2345 metro-sub.com

LARGEST COMMERCIAL REAL ESTATE BROKERS

Local commercial agents

National commercial agents

16

19

1 4

14

1998

Sam Firestone broker of record

Commercial real estate broker and advisory firm serving institutional, public and multinational corporate investors, private owners, major space users, developers and lenders.

15

400

1 19

6

1999

Shawn Hamilton vice-president and managing director

Tenant representation; office, industrial and retail leasing and sales; investment and multi-residential sales; consulting/client advisory services; project management; appraisal; property management

14

412

1 37

5

1992

Kelvin Holmes managing director

Leasing - landlord and tenant representation; investment sales; real estate management services; corporate solutions; valuation and advisory services; project management; consulting

14

240

5 120

13

2002

Kent Browne owner and broker of record

Commercial leasing; industrial; retail; multi-family; apartments; land

13

1

5 1

5

2004

Ralph H. Shaw CEO and broker of record

Full service; retail and office leasing; land sales; commercial and industrial sales and leasing; agriculture; mortgage financing

13

397

1 16

6

2009

Alain Desmarais senior managing director and broker of record

Office, industrial and retail leasing; land, multi-family and investment sales; property tax consulting; appraisal; project management; lease administration; market research; advisory and consulting services

11

275

1 16

5

2007

Michael Church managing director and principal

Full-service commercial: leasing; office/industrial/retail; multi-residential, apartments; asset management; property management; mortgage brokerage; investment sales; appraisal; project management; valuations

1 0

2

1969

Jacie Levinson broker of record

Real estate sales and leasing; property management; financial services; construction and development

2002

Kent Browne owner and broker of record

Commercial office, retail and industrial leasing; land and building sales; investment sales; multi-family sales

10

Local offices / National offices

Local support staff

Year established LOCAL CEO or in Ottawa designated broker and title

(RANKED BY NUMBER OF COMMERCIAL AGENTS)

Services offered

8

0

13 0

7

52

1 3

9

2009

Darren Fleming managing principal and broker of record

Strategic planning; transaction, project and relocation planning management; facilities management; workforce and location planning; portfolio/ lease administration; capital markets; supply chain management; sustainability; sublease and disposition

7

7

1 0

1

2008

Philip Zunder president and broker of record

Commercial real estate sales and leasing including office, retail, industrial, hotels, apartment buildings, retirement homes, land and syndication.

7

7

1 0

1

1958

Steven Gordon president and CEO

Corporate real estate services; property and asset management; land and development; investment consulting; industrial/commercial/investment brokerage; appraisal and asset reports; assessment and property tax administration; project management

6

0

1 0

1

2012

Greg H. O’Donnell founder and broker of record

Commercial real estate brokerage services

5

65

1 14

6

2004

Ken Dekker broker of record

Commercial leasing; industrial; institutional; appraisals; property management; consulting; retail; multi-family; residential; apartments; market research

5

150

5 20

10

1994

Ross Webley president and broker of record

Tenant representation; office, industrial, commercial, land and retail leasing; investment sales; advisory and consulting services; business sales

5

90

1 8

5

2010

Ransome DrCar vice-president and practice lead

Project and facility management; lease administration; national brokerage solutions; tenant representation; office/industrial leasing; investment sales and management; retail sales; leasing and investments; land sales; multi-residential investment

1 0

5

2000

Jason J. Kukk president and broker of record

Sale and acquisition of investment properties including single buildings and portfolios; syndication. Apartment building specialists; sales and leasing of retail, office, industrial, commercial and institutional; property management; consulting.

4

4

113

1 11

3

2002

Don Marks broker of record and vice-president of advisory and corporate services

Tenant representation; office/industrial/retail leasing management and negotiation; accounting and lease administration; asset management; project management; client advisory and consulting services

4

N/A

1 0

50

1987

Steve Ramphos broker of record and president

Full-service property management and commercial real estate.

1 0

1

1989

Joel Freedman broker of record

All aspects of sales and leasing of industrial, office and retail properties; land and building sales; investment sales; leasing; subletting and consulting

4

WND = Would not disclose. *Did not respond to most recent survey – using data from previous years.

Should your company be on this list? If so, please send details to research@obj.ca. This list is current as of December 22, 2015. © 2015 by Ottawa Business Journal. All rights reserved. This material may not be reproduced by any method in whole or in part without written permission by Ottawa Business Journal. While every attempt is made to ensure the thoroughness and accuracy of the list, omissions and errors sometimes occur. Please send any corrections or additions by e-mail to research@obj.ca. OBJ lists are primarily compiled using information provided voluntarily by the organizations named. Some firms that may qualify for the list are not included because the company either failed to respond to requests for information by press time, because the company declined to take part in the survey or because of space constraints. Categories are drawn up in attempt to gather information of relevance to the Ottawa market. Research by Patti Moran. Please send questions and comments to research@obj.ca.

FOR THE RECORD EllisDon Corp.

2680 Queensview Dr. Description: Emergency power modernization Buyer: PWGSC $6,802,600 Thales Canada Inc. 1 Chrysalis Way Description: Project MAESTRO Buyer: DND $3,633,917 Power-Tek Capital Services Inc. 155 Iber Rd. Description: Construction of new building at air hangar Buyer: RCMP $1,376,453 Masha Krupp Translation Group Ltd. 1547 Merivale Rd. Description: Translation services Buyer: Correctional Service of Canada $3,363,018 Emcon Emanation Control Ltd. 360 Terry Fox Dr. Description: Communications security equipment and components Buyer: DND $1,230,900 ESRI Canada Ltd. 1600 Carling Ave. Description: ADP software Buyer: DND $946,256 MHPM Project Managers Inc. and Tiree Facility Solutions Inc. in joint venture 424 Parkdale Ave. Description: Team of real property project managers to plan and coordinate the move of 21 wet laboratories Buyer: Health Canada $892,700

Michanie Construction Inc. 2825 Sheffield Rd. Description: Interior fit-up of training building Buyer: RCMP $801,714

Intergraph Canada Ltd. 1600 Carling Ave. Description: ADP software Buyer: DND $613,195 Modern Hieroglyphics 5586 Pettapiece Cr. Description: Upper Brewers Lock 43 masonry rehabilitation Buyer: Parks Canada $606,690 Mindwire Systems Ltd. 1545 Carling Ave. Description: Project coordinators Buyer: RCMP $592,029 DST Consulting Engineers Inc. 2150 Thurston Dr. Description: Environmental consultant for west Memorial Building asset integrity project Buyer: PWGSC $545,790

Contract Community Inc. 860 Berryside Rd. Description: Project monitors Buyer: PWGSC $423,659 The Conference Board of Canada 255 Smyth Rd. Description: Pan-Canadian physician resource planning tool Buyer: Health Canada $391,884 Calian Ltd. 340 Legget Dr. Description: LCSS technical support services Buyer: DND $369,743 Acart Communications Inc. 171 Nepean St. Description: Advertising creative services Buyer: Public Safety and Emergency Preparedness Canada $339,000

PwC has welcomed Debbie Robertson to the firm. Ms. Robertson will be a member of the company’s public sector team, providing assistance to government bodies.

CANARIE has announced the appointment

Hats off dominKnow Learning Systems’s e-learning platform has been named top learning content management system in Elearning! magazine’s 2015 Best of Elearning! awards. The award honours best-in-class solutions in the learning and technology marketplace.

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Thales Canada Inc. 1 Chrysalis Way Description: Military communications (research) Buyer: PWGSC $335,650 Morin Insulation and Roofing 2405 St. Laurent Blvd.

Description: Construction – roof replacement Buyer: RCMP $326,287

Entrust Ltd. 1000 Innovation Dr. Description: Designated PKI smart card Buyer: DND $510,477

Colleges and Institutes Canada 1 Rideau St. Description: Canadian armed forces accreditation Buyer: DND $319,575

Intergraph Canada Ltd. 1600 Carling Ave. Description: Informatics professional services Buyer: Parks Canada $479,797

Dasco Storage Solutions Ltd. 2446 Bank St. Description: Weapons cabinet Buyer: Canada Border Services Agency $300,000

ESRI Canada Ltd. 1600 Carling Ave. Description: ADP software Buyer: Indigenous and Northern Affairs Canada $430,140

DNA Genotek announced that Dan Knights has joined the company as a scientific adviser. Mr. Knights is a computational microbiologist and an authority in the application of machine learning to discovering linkages between the microbiome, environment and human disease.

Shelley Burke has joined Aarluk, Stonecircle and Consilium Consulting as their new managing director of operations. A consulting professional with nearly 30 years of experience, Ms. Burke is the former director of business and management consulting at IT and management consulting firm Donna Cona.

Renovation Marc Cleroux Inc. 183 Freeman Description: New records room fit-up Buyer: PWGSC $285,000

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OBJ.CA

Promaxis Systems Inc. 2385 St. Laurent Blvd.

Description: Surface ship underwater weapons systems support Buyer: DND $705,302

Secure Technologies International Inc. 1807 St. Joseph Blvd.

Description: Communications security equipment and components Buyer: DND $624,340

of Mark Leggott as executive director of Research Data Canada, an organization dedicated to supporting Canadian innovation. Before joining CANARIE, Mr. Leggott worked in academics, most recently as the university librarian at the University of Prince Edward Island.

Caroline Risi has joined Royal LePage Team Realty as a residential sales representative. Ms. Risi was formerly a partner with The Strategic Consulting Group of Ottawa.

TCI Translators 160 George St. Description: Translation services Buyer: PWGSC $689,850

OBJ.CA

MONDAY, JANUARY 4, 2016

ADGA Group Consultants Inc. 110 Argyle Ave. Description: LCSS technical support services Buyer: DND $822,265

Sonovision Canada Inc. 85 Albert St. Description: Translation services Buyer: PWGSC $689,850

Amcan Technologies Inc. 2405 St. Laurent Blvd.

Description: Specialized shipping and storage containers Buyer: DND $640,057

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Université d’Ottawa

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University of Ottawa

WRITING THE NEXT CHAPTER The University of Ottawa proudly welcomes Jacques Frémont, one of Canada’s leading constitutional experts, as our next President and Vice-Chancellor.

Mr. Frémont brings a wealth of experience to uOttawa. He is an internationally renowned authority on human rights, good governance and democracy who has held senior appointments in both academia and the public sector.

At the University of Montreal, he served as Provost and Vice-Rector, Academic Affairs. In New York, he coordinated support for higher education around the world as director of the International Higher Education Support Program at the Open Society Foundations.

Mr. Frémont is currently president of Quebec’s Commission des droits de la personne et des droits de la jeunesse.

His vision, proven leadership abilities and in-depth knowledge of the academic environment and university operations, both in Canada and around the world, make him the ideal choice to lead the University of Ottawa, a top-ranked teaching and research institution. His appointment takes effect July 1, 2016.

MONDAY, JANUARY 4, 2016

We are thrilled to welcome Mr. Frémont to help us write the next chapter in the history of the University of Ottawa.

OBJ.CA

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