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A Texas-based subsidiary of Siemens AG has purchased a prominent Saskatoon-based computer chip developer that specializes in “machine learning.”

Siemens, which brought in about $124 billion in revenue last year, bought Solido Design Automation Inc. for an undisclosed price. A source familiar with the local company said it’s likely the largest single technology deal the province has ever seen.

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Solido president and CEO Amit Gupta described the deal as “very positive,” in part because Siemens has committed to continuing an ongoing expansion at the company’s office at Innovation Place in Saskatoon.

“They’re very much committed not just to the existing team, but to grow the team,” Gupta said. “Part of what they saw as really being an asset is the University of Saskatchewan, and having really strong engineering and computer science and mathematics programs to recruit from.”

In a recent interview with the Saskatoon StarPhoenix, Gupta said Solido has been growing by between 50 and 70 per cent each year since 2009, and plans to double its employee count to 105 people this year. He said Monday the company currently has just over 70 employees.