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1-800-Flowers.Com, Inc. Acquires Smartgift, Inc.

May 02, 2023over 2 years ago

Acquiring Company

1-800-FLOWERS.COM

Acquired Company

SmartGift

JerichoRetailE Commerce

Description

1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, announced it has acquired SmartGift, Inc. SmartGift, Inc., an intelligent gifting platform, enables brands and corporations to engage consumers, employees, and prospects by providing a premium digital gifting experience in a unified platform. The SmartGift platform provides innovative, thoughtful, and convenient gift-sending and receiving experiences designed to establish complex corporate gift solutions for business partners. It allows users to send, track, and manage gifts and recognition campaigns for employees and clients quickly and efficiently. The acquisition of SmartGift, Inc. continues to expand the company's best-in-class consumer and corporate gifting capabilities and offerings to its customer community.

Company Information

Company

1-800-FLOWERS.COM

Location

Jericho, New York, United States

About

1-800-FLOWERS.COM, Inc. is a leading provider of thoughtful expressions designed to help inspire customers to give more, connect more, and build more and better relationships.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed