In addition to maple syrup and hockey, Canada is home to some of the top software firms in the world. In reality, it is one of the top nations for the production of software, and Canada’s largest businesses are found in this industry.
Constellation Software Inc., OpenText Corporation, CGI Inc., Descartes Systems Group Inc., and Shopify are five of the biggest Canadian software firms. Shopify is not just the biggest software firm in Canada, but it is also now the most valuable publicly listed corporation in the nation.
Canadian Software Companies
It is impossible to compare these businesses on an apples-to-apples basis because they all have various company profiles and employ different business methods, yet they are some of the top players in their respective software industries.
$209 billion is the market capitalization. The largest and most recent addition to the list of Canada’s top software firms The smallest publicly traded Canadian firm in any industry, this little Ottawa-based startup shot to the top of Canada’s expanding e-commerce market after its founding in 2006.
A commercial platform called Shopify is used to create and manage online businesses, making it simple for anyone to sell their goods on the internet. More than a million companies will use Shopify for online sales by the year 2020. Since January 2019, Shopify’s market valuation has increased more than tenfold, from $15 billion to over $200 billion.
2. Constellation Software, Inc.
Capitalization of the market: $46.5 billion With projected 2020 revenues of close to $4 billion, Constellation Software has a $46.5 billion market worth. It does business globally and provides a variety of public and private sector businesses with its industry-leading software and services.
The ticker symbol for the shares on the Toronto Stock Exchange (TSX) is CSU. Constellation Software was founded in 1995 with the intention of building a portfolio of software firms with the potential to dominate their respective industries.
The firm has grown quickly and built a network of businesses that serve a sizable and diversified client base through a combination of acquisitions and organic expansion. Constellation operates in more than 30 countries and offers its services to over 30,000 customers. The corporation employs more than 25,000 people and has operations across five continents.
3. CGI Inc.
$21.8 billion is the market capitalization. CGI Inc. is an information technology firm based in Montreal, Quebec, that engages in system integration, consulting, and outsourcing. Although it isn’t really a software firm, it does provide a variety of goods, such as secure cloud computing, that are intended to facilitate the exchange of knowledge and data.
With a market value of $21.8 billion, CGI is among Canada’s top 30 corporations. The stock is traded under the symbol GIB on the NYSE and the Toronto Stock Exchange, respectively. Revenues for the corporation in 2021 were $12.13 billion. Many of these businesses are listed on U.S. markets in addition to the Toronto Stock Exchange, where they are all listed.
4. OpenText Corporation
$14 billion in market capitalization. Another top Canadian software business, with a $14 billion market worth, is OpenText Corporation. The Ontario-based business develops and markets enterprise information management (EIM) software solutions to large corporations across a wide range of sectors.
For many different sorts of governance and monetization needs for major businesses, professional service organizations, and government agencies, OpenText software systems are used to handle content or unstructured data. The continued expansion of OpenText is largely attributable to the several companies it has bought, including Actuate Corporation, Information Graphics Corporation, GXS Inc., and Cordys.
Under the ticker symbol “OTEX,” OpenText is a publicly traded corporation that is listed on the TSX and the NASDAQ. The company has 14,000 employees and expects $3 billion in revenue in 2020.
5. Descartes Systems Group, Inc.
$7.4 billion is the market capitalization. Descartes Systems, situated in Waterloo, Ontario, provides cloud-based services, supply chain management software, and logistics software. After the dot-com bubble burst in 2000, the business came dangerously close to going out of business, but it has since recovered and been profitable.
Descartes Systems’ market capitalization is presently $7.4 billion, and its 2021 sales was $348.7 million. Under the ticker name DSGX, the stock is traded on the TSX and the NASDAQ.