Myant Capital Partners acquires Xerox Research Centre of Canada
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Transaction expands Myant's advanced materials capabilities in developing smart textile computing solutions
Myant has acquired Xerox Research Centre of Canada (XRCC), the Canadian research division of Xerox, and Canada’s leading advanced materials research centre. The 10-acre Mississauga-based innovation park with a 170,000 sq. ft. state-of-the-art facility specializes in the delivery of advanced materials technology that enables and differentiates real-world commercial products and solutions for a wide range of industries such as Healthcare, Electronics, Transportation, and Electrification.
“We believe in a future where everyone will be connected to the world around us. And Textile Computing will become the new standard for human connectivity to the digital world,” said Tony Chahine, Chief Executive Officer of Myant. “This strategic expansion of our core competency is part of Myant’s Industry 5.0 vision. I am tremendously excited to be adding this technology and talented team into the Myant family. The combined technology and expertise will allow us to accelerate the development of this new standard for human connection.”
For nearly 50 years, XRCC researchers have led the discovery and design of groundbreaking materials – collaborating across technical and scientific disciplines and bringing innovations to the market through research, development, and engineering (RDE) as a service.
The acquisition will enable Myant to further expand and scale its existing capabilities in developing cutting-edge smart textile computing solutions and establishing the new standard for human connection in an automated world. Myant strongly values the Centre’s longstanding commitment to the Canadian innovation ecosystem and its relationships with current partners, clients, and Innovation Hub residents and will continue to foster these relationships.
500 Xerox patents through a non-exclusive license
The deal will bring to Myant a world-class research facility, access to over 500 Xerox patents through a non-exclusive license, and some of the most talented and creative materials scientists and engineers in Canada. Between its existing Toronto Headquarters and the XRCC facility, Myant will grow to over 200 scientists and researchers specializing in end-to-end smart textile design and manufacturing.
“XRCC has been a leader in advanced material-based innovation for nearly five decades. This transition will strengthen XRCC by aligning our advanced materials research, development and manufacturing with Myant, while enabling the organization to continue its pioneering work and becoming a larger part of the Canadian innovation ecosystem,” said John Bruno, President and Chief Operating Officer at Xerox. “For Xerox, we see a strong supplier and partner in Myant as we focus on our key objectives of driving client success, profit optimization, and shareholder returns. We look forward to what the XRCC team will continue to accomplish in this next chapter.”