Globalive Technology Goes Public and Opens BIGDEV, a Blockchain and AI Shop
Globalive Technology Partners (GTP) will be going public on the TSXV in early June, and with that comes an injection of $30 million and a brand new partnership with the Business Instincts Group (BIG).
The Toronto-based GTP, led by CEO Anthony Lacavera, has already made the first move with the new $30 million that came from the IPO. They have acquired a 51 per cent stake in BIG’s software arm to create a joint venture called Globalive BIGDEV. The venture will function as a blockchain and machine learning/AI shop and work with various clients to launch new projects in the quick-growing sectors. This is the first major move from GTP, which was founded at the beginning of this year.
“BIG is more of a consultancy mixed with an actual technical developer team,” says Tanya Sardana, a GTP spokesperson who is very familiar with the deal. “Clients would approach them with projects or problems and BIG would create solutions. They can combine their business expertise and know what’s valuable, such as drawing out use cases, then actually developing those projects as well. The technical component is very much there.”
“What GTP has, and what we’re building out, is a developer team with AI and machine learning capabilities, so when it combines with BIG, we see that deep integration and next-level technologies,” says Sardana.
Right now, BIGDEV is working on six total projects, with five focused on blockchain and one on AI. The way it works is companies will approach BIGDEV with a project or idea then work with them to realize it fully in-house. Clients are spread across North America, with a distinct focus on the IP, consumer loyalty and payments sectors. Diving deeper into those, there is working being done with Air Miles, IoT and supply chain.
“We’re building core technology that can be reused horizontally across diverse industries and vertically within them,” says Anthony Lacavera. “Co-owning and co-developing technology stacks with high-growth firms that already have existing customers is a key advantage. We are excited about the pipeline of projects Globalive BIGDEV has already started working on.”
This sort of “blockchain and AI shop” is building off the immense knowledge both BIG and GTP share in the areas. BIG is led by founder and CEO Cameron Chell, who is also the co-founder of KODAKOne, a blockchain solution developed by WENN Digital that allows photographers to retain the rights to their photos. This background will be combined with GTP’s knowledge in the machine learning and software deployment fields, topped off by Lacavera’s knack for scaling and growing a business. Lacavera’s past accomplishments include founding, growing then seeing WIND Mobile sell for $1.6 billion; he also the co-chair of NEXT Canada.
That idea of scaling will be BIGDEV’s first goal. A large portion of this $30 million capital injection will go towards hiring new talent to work on the blockchain and AI projects. Andy Quinn, the former VP of technology at BIG, will be the new president of Globalive BIGDEV.
GTP will be listed on the TSXV through a reverse takeover of shell company Corporate Catalyst.
