Seattle SPAC seeks to buy Pittsburgh tech firm

PITTSBURGH — A Seattle-based investment bank is looking for deals in Pittsburgh — for itself and for the new blank check company it sponsored and took public last week.

Cascadia Capital LLC Chairman and CEO Michael Butler said he’s been spending at least a week per month in Pittsburgh for the past three years getting the lay of the land and scouting for acquisition opportunities, particularly in the robotics, AI and automation space. Now he’s close to pulling the trigger.

“We’re making a big, long-term bet on Pittsburgh,” Butler said. “We saw Seattle transition from a promising tech hub to a major tech hub, and we think Pittsburgh is poised to go through the same transition. I’ve seen the movie in Seattle, and the same thing’s going to happen in Pittsburgh.”

Read more from our news partners at the Pittsburgh Business Times.