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Box Acquires Crooze to Transform Enterprise Content Management with AI and Metadata-Powered Applications

Jan 24, 2024almost 2 years ago

Acquiring Company

Box

Acquired Company

Crooze

Redwood CitySan FranciscoInformation TechnologySoftware Development

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.

Company Information

Company

Box

Location

900 JEFFERSON AVE

Redwood City, California, United States

About

Box (NYSE:BOX) is the Cloud Content Management company that empowers enterprises to revolutionize how they work by securely connecting their people, information and applications. Founded in 2005, Box powers more than 87,000 businesses globally, including AstraZeneca, General Electric, P&G, and The GAP. Box is headquartered in Redwood City, CA, with offices across the United States, Europe and Asia.

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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