Vancouver Startup Bought by GE

technology | BCBusiness
Nate Kube, CTO and founder, Wurldtech Security Technologies

Eight-year-old firm specializing in the security of networked machines added to the global giant’s stable

Wurldtech Security Technologies Inc. has agreed be bought by U.S. giant General Electric Co. The Vancouver startup provides cybersecurity products and services for networked devices, specializing in industrial applications.

Wurldtech will remain in Vancouver and will operate as a GE subsidiary. The 60-employee company was founded by Vancouver entrepreneur Nate Kube in 2006.

The sale marks a successful exit for Vanedge Capital Partners Ltd., which led a $5-million investment round in 2012. “At the time we had identified the emergence of the cybersecurity market for industrial applications as a key area of growth,” said Vanedge managing partner Moe Kermani. Vanedge was the single largest venture shareholder in Wurldtech, added Kermani.
Vanedge was also an early investor in Recon Instruments Inc., the Vancouver maker of protective eyewear with built-in digital display.
GE and Wurldtech did not disclose the sale price of Wurldtech.