Backed by new investors, Micro Logic Bolsters its Efforts to Conquer the Cloud Market

Quebec City, May 4, 2023 — Micro Logic is proud to announce financial support from the Government of Quebec, Investissement Québec, Desjardins Capital and BDC Capital, totaling more than $50 million. This investment will allow our company, a leader in Canada’s information technology (IT) landscape, to accelerate its growth and develop the cloud market throughout North America. This financial support should help Micro Logic create over 500 new jobs in the next 5 years and break the 1,000-employee mark.

We’re proud of this new milestone in our meteoric rise. Over the last decade, Micro Logic has developed several business areas, leading to a 150% increase in sales. Our company is very excited about this investment, which will fuel the first phase of an ambitious growth plan ultimately valued at $150 million.

One of Micro Logic’s most distinctive assets is its Canadian sovereign cloud, Projet Cirrus. The Quebec-based company stands out in a fast-growing worldwide niche that is occupied mainly by the industry’s global giants: “Ten years ago, as I witnessed cloud migration unfold and realized it was driven almost exclusively by hyperscalers, I made a bet: a Quebec company can build a sovereign cloud and play its cards right to better protect our data. Today, our cloud solution meets the highest industry standards for data protection. We are part of a select group comprised of less than 1% of global players. Our model proves that Quebec companies can emerge globally and successfully stand out in the big leagues thanks to their know-how,” said Stéphane Garneau, President of Micro Logic.

Project Cirrus, the Cornerstone of Expansion Outside Quebec

Supported by a team of seasoned experts, Micro Logic has secured close to $30 million to bolster the development of Projet Cirrus, which has recently achieved the Sovereign Cloud recognition by VMware, a world leader in cloud computing. Held by only 4 clouds in North America, this distinction certifies that customer data is 100% hosted in Canada and subject to Canadian laws and jurisdiction. This is a significant advantage given the justifiable and growing concerns as to where sensitive data is hosted.

The funding partners stated: 

“We have a number of key actors in the global cloud computing market, and Micro Logic is one of them. The company’s desired positioning could see a major increase in its market share in a world occupied up until recently by a handful of global giants. We are proud to support such a project.”
Joëlle Boutin, Member of Parliament for Jean-Talon, and Parliamentary Assistant to the Minister of the Economy, Innovation and Energy (Science and Innovation)

“Thanks to our financial support, Micro Logic, an innovative company ranked among Canada’s leading IT service providers, continues to grow its business. Its made-in-Québec cybersecurity solution provides a key advantage for local businesses and for Québec as a whole.”
Pierre Fitzgibbon, Minister of the Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Metropolis and the Montréal Region.

“Quebec’s information technology industry is recognized worldwide and is one of the strategic sectors we rely on. Among its most dynamic players, Micro Logic stands out by offering a Quebec alternative to available data security and cybersecurity solutions. Investissement Québec is proud to support them in their growth projects.”
Guy LeBlanc, President and CEO of Investissement Québec

 “Desjardins Capital is proud to contribute to the North American expansion of a Quebec-based flagship in the digital transformation industry. We aim to support Micro Logic’s management team in key moments of its growth. Its managers’ long-term vision and proactivity bring Micro Logic to the status of leader in its industry.”
Marie-Hélène Nolet, Chief Operating Officer at Desjardins Capital

“Thanks to its avant-garde vision and solid management team, Micro Logic has become an important player in the Quebec technology sector, particularly with its unique cloud-based offering. The innovation of this ambitious company is remarkable. For BDC Capital, supporting Micro Logic was a natural fit with our commitment to transforming high-potential companies into global technology champions.”
Louise Langevin, Vice-President, Growth Capital and Business Transfer, BDC Capital

About Micro Logic

Micro Logic is a Quebec-based company that plays a leading role in the world of digital transformation. Forty years after its creation, it has become one of Canada’s most important IT solutions providers, according to Channel Daily News. It stands out for the quality of the support it provides to its clients, both in the private and public sectors. Micro Logic has seen a 150% increase in sales in 10 years. With the support of investors, the company began a growth plan aimed at conquering the North American market. Its flagship product, Project Cirrus, is a world-class cloud solution that puts security and data sovereignty (sovereign cloud) in the spotlight. In 2022, its president, Stéphane Garneau, was named CEO of the Year by Les Affaires and the Association québécoise des technologies (AQT).

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