TORONTO, ONTARIO, CANADA - Tuesday, 30 May 2017 – Canadian technology startup, OMX (Offset Market Exchange Inc.) is proud to announce it has received $3.8MCAD in support from the world’s largest government contractor, Lockheed Martin (NYSE: LMT) to drive the company’s global expansion.
OMX, a leading supply chain, data analytics and project management technology platform, connects buyers and sellers in the defence, aerospace, mining, oil/gas and infrastructure industries. The technology also manages and tracks national socio-economic impacts of major projectss, particularly government procurements. Building on the company’s initial success in Canada, this investment will drive the technology platform’s expansion globally. This five-year project (which was approved as an "Investment Framework" ITB transaction) will include significant R&D and technical development, as well as commercialization efforts to expand the platform globally, including:
Regions of focus will include South and Central America, Eastern Europe, India, Israel, the Middle East, the Netherlands, Spain and other countries in Western Europe with increasing government procurements. As the platform is now being used in markets such as infrastructure, energy and mining for tracking country of origin in supply chain, the United States is also a big target of growth.
This support of OMX achieves the Canadian government’s major criteria under its new "Value Proposition" commitment to drive investment into the innovative, small business community in Canada. OMX is a young, innovative business driven by a strong technology leader and team of Canadian engineers. The company has a strong understanding of technology trends and trends towards deliverology and "facts based analysis", and have incorporated leading edge technologies into this niche sector and capability. Investment in OMX’s supplier sourcing and management technology will drive significant new opportunities for SMEs in Canada and around the world. OMX’s data analytics tools will also help large corporations manage, track and report on the impacts to local economies as a result of their investments.
"This investment will have a huge impact on OMX’s ability to expand globally," said OMX founder and CEO, Nicole Verkindt. "This will ensure continued opportunities for Canadian companies abroad, driving exports. It will also translate to increased discipline for many of our clients, most of which are government contractors, to manage and track and report back on exactly what impacts they have had on the economy. When we talk about ‘impacts’ at OMX, we talk about real data. We talk about job numbers, CAPEX investment, contract amounts going to small businesses, tech startups, Aboriginal-owned businesses, and finally the real multiplier impacts that has had to the economy. I started OMX because I believed in the power of innovation and also the necessity for large corporations to collaborate. I knew there was more we could be doing by leveraging technology to drive increased job creation and socio-economic impacts from procurements."
"This agreement signifies not only our commitment to Canada by investing in a Canadian technology SME, but it also signifies our company’s practice to leverage and continue to develop the most advanced supply chain management tool to source, manage and track economic impacts in countries where we operate," said Charles Bouchard, Chief Executive of Lockheed Martin Canada. "We are very pleased to see our Investment Framework grant going to OMX, which serves as a critical link within Canada’s aerospace, defence, technology and resource development supply chain. Since 2011, we have valued our partnership with OMX and have demonstrably benefited from its software platform that provides meaningful data on supplier capabilities and the socio-economic impacts that our company, Lockheed Martin and its divisions are having on Canada. We are confident that this investment will enable OMX to continue to help Canadian SMEs prosper by adding a global dimension to its unique platform that will drive more Canadian sales and exports in the long term."
The OMX platform provides access to over 60,000 international companies by region, size, local content, certifications and capability, with effective web-based software tools to manage supplier and customer relationships collaboratively across an organization. It consolidates all the related information required to fulfill a program, making Government contractors more competitive in a sector where there tends to be a lot at stake and entry costs can be heavy.
Major features include:
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To see the BNN interview on this deal click here: http://www.bnn.ca/video/niche-canadian-marketplace-gets-investment-from-lockheed-martin~1125556
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit their website.