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Broadside Enterprises, Inc. (OTC: BRSE) Acquires Digital Food Service Platform

PRIVATEJan 16, 2024•over 2 years ago

Acquiring Company

Broadside Enterprises

Acquired Company

Potential Engine (a digital food service platform of Byte to Bite Industries Inc.)

West HollywoodHospitalityFood And BeverageHospitalityE Commerce

Description

Broadside Enterprises, Inc. has acquired Potential Engine, LLC, the digital food service platform of Byte to Bite Industries, Inc., including its digital infrastructure, intellectual property assets, and interlocking digital restaurant brand portfolio operated under the Cheebo Hollywood umbrella. The acquired platform has demonstrated success in launching and marketing unique digital restaurant brands and has generated significant sales, which aligns with Broadside's mission to drive omni-channel revenues for various food service operators globally.

Company Information

Company

Broadside Enterprises

Location

West Hollywood, California, United States

About

Broadside Enterprises, Inc. (OTC:BRSE) acquired Potential Engine, LLC, the digital food service platform of Byte to Bite Industries, Inc. including digital infrastructure, intellectual property assets and interlocking digital restaurant brand portfolio operated under the Cheebo Hollywood umbrella. Prior to acquisition, the platform generated almost one million orders and over $25 million in revenue. Based on this success, Broadside is working to expand its client base globally and build the platform into a full-fledged AI-based ecosystem.

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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

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