OMX receives investment from Lockheed Martin for international expansion
Summary
Toronto-based OMX, an online platform that helps companies working on government contracts track their compliance with agreements, is receiving a $3.8 million CAD investment from Lockheed Martin, according to a report from BNN. OMX’s data analytics and project management software platform connects buyers and sellers in the defence, aerospace, mining, and infrastructure industries. Speaking with BNN’s Jon Erlichman, OMX founder and president Nicole Verkindt said the funding will go towards expanding OMX’s platform into international markets, allowing companies in other countries to track and manage their projects’ impact and spending. “Other countries like India and across Europe are requiring this too.” Verkindt also noted that Lockheed Martin, a global aerospace, defense, security and advanced technologies company, is providing OMX with feedback about how to carry out its international expansion. They want to ensure local supply chains [are] involved.” Verkindt pointed to OMX’s recent partnership with the Canadian Council for Aboriginal Business, suggesting that as companies in sectors like mining enter places such as Northern Ontario and other rural regions, it’ll be important for them to communicate back to the government about what they’re doing for the local economy.