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Brex Acquires Pry Financials To Expand Its Software Capabilities For Founders

Apr 19, 2022•over 3 years ago

Acquiring Company

Brex

Acquired Company

Pry Financials

San Francisco

Description

Brex, the company reimagining finance for growing businesses, today announced its acquisition of Pry Financials, a software platform with tools designed to enable budgeting, bookkeeping and forecasting, for $90 million.

Company Information

Company

Brex

Location

San Francisco, California, United States

About

Brex is a powerful financial stack designed to serve the next generation of growing businesses. By integrating software, services, and products into one experience, we help customers effortlessly extend the power of every dollar, so they’re free to focus on big dreams and fast growth—without worrying about wasted spend. We proudly serve tens of thousands of businesses, from small private companies to many of America’s most beloved public brands. Learn more at brex.com.

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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