XMachina AI Inc. (“XMachina” or the “Company”) is pleased to announce the successful acquisition of Bain Public Inc. (“Bain Public”). On December 31, 2021, the Company and Bain Public successfully agreed on the terms and conditions for the acquisition of 100% of the outstanding shares of Bain Public by the Company. “We are very excited to have Paul Ortchanian and his team join us in our goal to grow into one of the largest and most diverse Artificial Intelligent companies in North America.” Commented Claude Théroret, CEO of XMachina AI Inc. The acquisition consisted of a combination of cash and shares that will vest over a defined period of time.
Bain Public is a niche management consulting firm that specializes in delivering a proprietary program for enhancing product development companies in the software ecosystem. “We see the Bain Public acquisition as part of a strategic growth strategy for XMachina. Firstly we have an opportunity to grow XMachina revenues through the continued development of the Bain Public brand while adding a layer of in house product expertise for the targets that we acquire. Paul’s personal expertise developed in the Silicon Valley and Montréal ecosystems and proprietary management coaching programs have enabled him and his team to build a successful niche services company geared towards the enhancement of enterprise value through defined approaches to product roadmap delivery. Bain Public’s presence across the Montréal AI accelerator ecosystem will also bring top rated deal flow and presence to XMachina.” said Mr. Théoret.
“Bain Public emerged from our expertise helping organizations make smart product decisions.” Commented Paul Ortchanian Founder and CEO of Bain Public Inc.
“The acquisition is a milestone for us as it enables more clients within the North American Artificial Intelligence ecosystem to access our proven product management methodologies. This next chapter will allow us to expand on our abilities to develop and maintain the organizational models and operational tactics our customers need today and for the future.”
With its second acquisition completed, the Company is focused on closing its next financing round and preparing its public listing filing requirements.
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