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Mediagrif’s “Shopify lite” acquisition has potential, says Laurentian

Mediagrif
Mediagrif
Outgoing Mediagrif CEO Claude Roy

A new acquisition by Mediagrif (Stock Quote, Chart, News: TSX:MDF) has Laurentian Bank Securities analyst Nick Agostino feeling good about the company’s prospects going forward.

Yesterday, Mediagrif announced it will acquire a company called Orckestra Inc., which it described as “Orckestra Inc., a leading Canadian-based provider of digital unified and omnichannel commerce solutions for the retail and manufacturing industry”.

“We are happy to welcome and unite the Orckestra team within Mediagrif. This acquisition represents a unique opportunity for Mediagrif to gain footprint in the rapidly growing digital retail sector,” said the company’s CEO Claude Roy.

Abernethy describes Orckestra as a “A “Shopify lite” acquisition with some potential” and says the pickup will likely complement Mediagrif’s InterTrade platform.

“In keeping with MDF’s strategy to target tuck-in transactions for MERX and InterTrade, we view Orckestra as offering potential cross selling capabilities with MDF’s EDI InterTrade platform that targets similar retail and manufacturing industries,” the analyst says. “Existing InterTrade clients include Neiman Marcus, McKesson, Uni-Select, Dillard’s, and Kohl’s. Orckestra has offices in Montreal and Copenhagen, and services customers in North America and Europe.”

In a research update to clients today, Abernethy maintained his “Buy” rating and one-year price target of $20.00 on MDF.

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About The Author /

Nick Waddell
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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