American Express to acquire Tock from Squarespace to enhance dining platform; also agrees to acquire Rooam
Jun 21, 2024•over 1 year ago
Acquiring Company
American Express
Acquired Company
Tock
New YorkChicagoWashingtonFinancial ServicesSoftwareDescription
American Express has entered into an agreement to acquire Tock, a reservation and event management technology provider, from Squarespace. Additionally, the company has also agreed to acquire Rooam, a technology company that powers mobile payments and ordering for restaurants and entertainment venues. These acquisitions aim to expand American Express’ suite of digital tools for restaurants and merchants, better serving their customers and increasing the number of restaurants offered through American Express channels.
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