Stocks To Watch As Canada Periodic Table Of Tech Is Revealed

Canada is home to a number of tech companies spread across various industries.  In celebration of Canada Day, research firm CB insights has tabled what has come to be known as the periodic table of Canadian tech.  The posting of the table comes at a time when Solium Capital Inc. (TSX:SUM), Celestica (TSX:CLS), Patriot One Technologies Inc. (TSE:PAT) are providing great exposure to the country’s tech space.

Periodic Tech Table

The Canadian periodic tech table consists of a good number of private companies that have made a name for themselves with innovations in select industry categories. The table also includes the most active venture capital and corporate investors investing big on tech companies with exciting innovations.

In total, the 2019 table is made up of 108 venture-backed technology companies as well as 20 investors and 22 exits from the previous list.  The likes of Intelex acquired for $570 million, Wave Financial acquired for $405 million, Aeryon Labs acquired for $200 million, and Lightspeed acquired for $179 million also made a list.

The amount of money for which the companies were acquired validates the talent of Canadian innovators as well as the growing belief of how valuable their underlying technologies and innovations will become. The acquisition also affirms the fact that Canadian tech companies always sell-out before they achieve their full potential.

Artificial Intelligence and digital health-focused companies make up a quarter of all companies in the table, underscoring some of the key areas of investment in the tech space. The 2019 tech periodic table comprises of 17% more AI companies from the 2018 table, digital health-focused companies having increased by 44%.

The increase highlights changes in the Canadian tech sector as focus shifts from research to application and adoption of underlying technologies.  Increased focus in artificial intelligence and machine learning in the Canadian tech space does not comes as a surprise. The two technologies have proved to be more than capable of enhancing efficiencies and reducing costs of operations.

Canada Tech Stocks

Celestica is one of the companies for gaining exposure to the country’s tech sector. With a market cap of more than $1.5 billion, the multinational has made a name for itself on the provision of end-to-end product lifestyle solutions in electronics manufacturing space.

The stock is ideal for investors looking to gain broader exposure to the semiconductor sector. While the stock price has struggled in recent years, earnings per share has continued to grow at an impressive rate.

Solium Capital was one of the best performing tech stocks in the country in 2018. With a market cap of $1.1 billion, this is an ideal stock for gaining exposure to Canada’s cloud computing market. The equity management, software company, has continued to grow revenues since the financial crisis of 2009 accelerated with the acquisition of CapShare Inc. in 2017.

Patriot one Technologies sums up the top three tech stocks to watch in the Canadian stock market. The company has made a name for itself on the provision of threat detection and counter-terrorism solutions. For investors interested in AI technology, then Patriot One Technology is an ideal pick as it has developed PATSCAN, a threat detection technology that leverages the revolutionary technology.

This article by Money News National is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Money News National has no position in the stocks mentioned. Thank you for reading.


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