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ShiftPixy, Inc. completes acquisition of TurboScale to enhance AI capabilities

Oct 17, 2024•about 1 year ago

Acquiring Company

ShiftPixy, Inc.

Acquired Company

TurboScale

MiamiProfessional ServicesMachine LearningArtificial IntelligenceInformation Technology

Description

ShiftPixy, Inc., a Florida-based national staffing enterprise, has announced its acquisition of TurboScale, a cutting-edge AI technology company specializing in scalable GPU cloud infrastructure and AI model deployment. The $150 million transaction, with $75 million in stock and $75 million in debt, underscores ShiftPixy's commitment to accelerating innovation through artificial intelligence and enhancing its platform capabilities with TurboScale's advanced AI solutions.

Company Information

Company

ShiftPixy, Inc.

Location

4101 NW 25th Street

Miami, Florida, United States

About

ShiftPixy is Enabling Gig Economy Participation And Engagement For Your Business Designed to sync work opportunities from job providers with the open time slots of available shift workers. ShiftPixy manages relationships with job providers to take open shift opportunities that are filling their schedules and offer them as work opportunities to qualified workers without the formal job interview and commitments. The ShiftPixy app allows shift workers to enroll, profile and prequalify based on their work and training experience for open shift opportunities. “Shifters” can earn provider-specific qualifications to boost their score and access to more shift opportunities.

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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