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Toronto AI Firm Ada Agrees to Merge With U.S. Company Dialpad in $600 Million Deal
Open this photo in gallery: Ada chief executive Mike Murchison, shown earlier this year, co-founded the AI customer service company in 2016.
Open this photo in gallery: Ada chief executive Mike Murchison, shown earlier this year, co-founded the AI customer service company in 2016. Along with answering questions, Ada's tech connects to clients' other software systems to perform administrative tasks. Jon Laytner/The Globe and Mail Ada Support Inc., the Toronto-based company that makes AI customer service software for businesses, has agreed to combine with U.S. company Dialpad Inc.
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Toronto AI Firm Ada Agrees to Merge With U.S. Company Dialpad in $600 Million Deal
Ada Support Inc., a Toronto-based company that makes AI customer service software, is merging with U.S. company Dialpad in a $600-million deal. The transaction is all-share, according to sources cited by The Globe and Mail. The deal is expected to close as soon as next week. The valuation is much lower than Ada's peak during the pandemic. Ada, co-founded in 2016 by chief executive Mike Murchison, uses AI to answer customer questions and connects to clients' other software systems to carry out administrative tasks.