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Hummingbird completes acquisition of LogicLoop to advance data integration and automation capabilities

Sep 20, 2024about 1 year ago

Acquiring Company

Hummingbird

Acquired Company

LogicLoop

San FranciscoSan FranciscoPrivacy And SecurityFinancial ServicesInformation TechnologySoftwareFintechSaasArtificial IntelligenceFinancial ServicesSoftware

Description

Hummingbird, a leading provider of financial crime risk management solutions, has announced the acquisition of LogicLoop. This acquisition represents a significant step forward in Hummingbird’s mission to become the core operating platform for financial crime fighters, allowing financial institutions to unify, explore, and act on their risk and compliance data. By integrating LogicLoop's innovative technology, Hummingbird aims to tackle data fragmentation and empower risk and compliance teams to streamline operations, enhance decision-making, and deliver more impactful outcomes.

Company Information

Company

Hummingbird

Location

San Francisco, California, United States

About

Hummingbird gives the people fighting financial crimes superpowers. Our service is designed to enhance anti-money laundering and counter-terrorist financing investigations. It reduces cumbersome paperwork, provides insightful analytics, and enables collaboration for compliance professionals and law enforcement agents. We’re on a mission to turn the tables against criminals who pollute our financial system. Modern criminals are sophisticated, tech-savvy, and agile. The tools used to fight financial crimes should be, too.

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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