The company is reallocating resources to capitalize on growth opportunities and achieve profitability across all its business segments, a company spokeswoman said in an e-mailed statement.
The Waterloo, Ontario-based company last month said it was considering closing its offices in Sweden, a move that would result in the loss of up to 100 jobs.
Up to Friday’s close, the company’s Toronto-listed stock had risen more than 62 percent in the last 12 months, whereas the U.S.-listed stock had risen nearly 44 percent during the same period.
(Reporting by Euan Rocha in Toronto and Anannya Pramanick in Bengaluru- Editing by Ken Wills)
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