News Summary

Montréal-based Sovra, formerly known as MDF Commerce, has appointed Tom Spengler as its new CEO as part of its strategic shift to focus on government technology. This move is accompanied by the acquisition of Calgary-based software startup Ontopical and the sale of six ‘non-core’ businesses. Sovra’s rebranding and restructuring aim to strengthen its position in the GovTech market. The company, which was taken private by Kohlberg Kravis Roberts (KKR) last year, is focusing on public sector procurement solutions. The acquisition of Ontopical, a government intelligence platform, is set to enhance Sovra’s capabilities by integrating AI-driven pre-RFP intelligence into its supplier platform. Clayton Feick, Ontopical’s CEO, will become president of Sovra Supplier, while Derrick Koenig, Ontopical’s founder, will lead the Supplier product team.