Kinaxis, Colbeth honoured by Canadian online tech magazine

Cantech letter, an online magazine focusing on Canadian technology, has awarded Ottawa-based Kinaxis its 2015 TSX Tech Stock of the Year.

Kinaxis chair Doug Colbeth was also named TSX Tech Executive of the Year at the awards, which were handed out this week at the Toronto Convention Centre.

“Kinaxis is a more than deserving recipient of the 2015 TSX Tech Stock of the Year and Mr. Colbeth of the Executive of the Year,” Cantech Letter founder and editor Nick Waddell said in a statement. “The company’s success should serve as a beacon to other innovators considering the public route that the capital markets are thriving for technology in Canada and will reward companies that execute.”

The TSX Tech Stock of the Year recipient is the exchange’s strongest performer as determined by an anonymous poll of industry analysts conducted by Cantech Letter. Kinaxis stock has risen nearly 150 per cent over the past 52 weeks and was at $46.78 in midday trading on Friday.

Kinaxis edged out Enghouse Systems and Ottawa’s Shopify for the award.

Kinaxis CFO Richard Monkman said the company was honoured to receive the recognition.

“This award highlights our company’s continued success, and reflects the confidence placed in us by our many customers, partners, and investors. We take that confidence they have entrusted in us very seriously and work hard every day to continue to earn it,” he said while also paying tribute to Kinaxis’ employees, executive team and board of directors.

Mr. Colbeth, who stepped down as the firm’s CEO at the end of 2015, echoed that praise for Kinaxis’ staff.

“Without their hard work, commitment to our customers and continued drive to innovate, we would never have developed into the industry leader we are today,” he said in a statement.

Kinaxis was added to the S&P/TSX Composite Index in late December after its strong growth earlier in the year.