Ahoy to buy Montréal's Wrk in nine-figure deal, hire 200 locally
What's the deal? Dubai-based physical AI startup Ahoy is acquiring Montréal's Wrk in a "nine-figure" deal and relocating its research and development operations to the city. Wrk is a venture-backed startup that sells business process automation software. Ahoy has not disclosed further terms, and the acquisition has not yet closed.
What each side does: Ahoy builds AI infrastructure designed to perceive, decide, and operate in the physical world. It has deployed its technology within airports, utilities, and hospitals across the Middle East and North America.
The expansion: Alongside the deal, Ahoy will make Montréal its primary R&D hub and North American headquarters, and open a physical AI lab there. It plans to directly hire for 200 new research, engineering, and go-to-market roles, and expects to create an additional 300 jobs across the ecosystem via third-party consulting, engineering, and implementation firms.
Why now? The moves come two months after Ahoy began partnering with local AI research institute Mila and revealed the Wrk deal. The company chose Montréal because it houses "one of the deepest AI research talent pools in the world," founder and chief executive officer Jamil Shinawi told BetaKit, citing Mila and other local academic institutions.
What's the endgame? Ahoy claims to be profitable and growing quickly, with more than $100 million in annual recurring revenue. It is looking to build on that progress by making broader inroads in North America.
The signal: A profitable Middle Eastern startup planting its R&D base in Montréal — and buying a local company to do it — underscores the city's pull as a global AI talent centre.
Read more: BetaKit
