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 Québec, allowing the company to grow its presence in the city.
“AppDirect sends a strong signal by choosing Montreal,” Quebec Premier François 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 dépot et placement du Québec.
Comments