Box Acquires Crooze to Transform Enterprise Content Management with AI and Metadata-Powered Applications
Jan 24, 2024•almost 2 years ago
Acquiring Company
Box
Acquired Company
Crooze
Description
Box, Inc. has acquired Crooze, a leading provider of no-code enterprise content management applications built on the Box Platform. The acquisition aims to transform enterprise content management by leveraging Crooze's advanced ECM capabilities, including the company’s no-code app builder and metadata capabilities, to address business-critical processes and modernize the ECM market with AI. Box will continue to offer and support Crooze products and services, and in parallel will integrate the Crooze technology natively into the Box Content Cloud, providing customers with a more comprehensive and integrated solution for managing their content.
M&A Insights
Based on deal dataIntegration 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