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Granite Digital strategically expands into the U.S. market by acquiring LCM247's Digital Division

Jun 25, 2024•over 1 year ago

Acquiring Company

Granite Digital

Acquired Company

Granite Digital

IrelandIreland

Description

Ireland’s largest digital agency, Granite Digital, has strategically expanded into the U.S. market following its acquisition of the majority stake in the digital division of New York-based creative agency LCM247. This move aligns with Ireland's reputation as a leading European tech hub and responds to the increasing demand for innovative digital solutions and award-winning client service from Granite Digital’s growing Fortune 500 client base.

Company Information

Company

Granite Digital

Location

Ireland

About

LCM247 is a New York-based creative agency known for its digital division. The digital division was founded by Chief Creative Officer, Patrick Heaphy. It has been acquired by Granite Digital to strategically expand its presence in the U.S. market and fill a crucial gap in the market, particularly in B2B enterprise support.

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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