B2B News for Tuesday, April 12th, 2022: Linkedin Workforce Report, Consumers Plan to Spend Less and an Acquisition in the Making

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Canada’s bustling tech sector has attracted national and international headlines in recent weeks, as an influx of investment into the nation’s talent pipeline helps it earn a reputation as a major hub for the industry.

The latest edition of LinkedIn’s Workforce Report for Canada reveals where the tech workforce has expanded the fastest over the past year, as well the roles, skills and cities driving growth. Here are some of the key findings:

  • Growth in Canada’s tech talent workforce outpaced the U.S. over the past 12 months (1.6% growth rate in Canada compared to 1.1% in the U.S.)
  • Calgary enjoys the fastest pace of tech workforce growth at 2.2% over the past 12 months (Vancouver and Toronto are close behind at 2.1% and 2% growth, respectively)
  • Data Engineer (19.7%) and Back End Developer (14.1%) are the fastest-growing tech jobs in Canada over the past 12 months
  • The fastest-growing skills relate to cloud computing, such as Microsoft Azure (which was up 36% over a year), user interface library React.js (up 33%), and Amazon Web Services (up 26%)

The full report findings can be found here

Meanwhile, in other news, research released today from RAPP and Code has revealed that a quarter of consumers plan to spend less across six key sectors: travel, luxury, retail, automotive, technology, and financial services. 
However, despite the downturn in consumer spending due to rising inflation and living costs, shoppers will spend with brands that treat them as an individual. In fact, 59% of consumers surveyed say they would spend more money with a brand that treats them as an individual, and more than a third (34%) would spend 50% extra with a brand that treats them as an individual. Interestingly, 77% of consumers say brand values are important when choosing a company or brand to shop with, a figure which rises to 83% in the 16-34 age demographic.

In acquisition news, KKR & Co Inc said today it plans to buy cybersecurity firm Barracuda Networks from its private equity owner Thoma Bravo, highlighting continued interest in cybersecurity businesses from buyout firms. The announcement, confirming an earlier report, did not disclose financial terms.

Dealmaking in cybersecurity has jumped in recent months as the pandemic accelerated the shift to remote working, forcing companies to ramp up spending in the sector. Russia’s invasion of Ukraine has also led to a spike in cyberattacks.

Thoma Bravo on Monday agreed to buy cybersecurity firm SailPoint Technologies, while Datto, a security solutions provider, was also taken private in a $6.2 billion deal by investors led by Insight Partners.

Founded in 2003, Barracuda manages the data security of its customers over the cloud on a subscription basis, providing a range of services including email protection, software and cloud security, network security, and data protection.

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