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Cornell Capital Acquires Advancing Eyecare

May 09, 2022•over 3 years ago

Acquiring Company

Cornell Capital

Acquired Company

Advancing Eyecare

MobileSoftwareFinancial ServicesInformation TechnologyMobileMedia And Entertainment

Description

Cornell Capital LLC ("Cornell Capital"), a private equity firm based in New York and Hong Kong, today announced that it has entered into an agreement to acquire Advancing Eyecare ("AEC" or "the Company"), North America's leading provider of ophthalmic instruments, from Atlantic Street Capital. Terms of the transaction were not disclosed.

Company Information

Company

Cornell Capital

About

Cornell Capital LLC is a U.S.-based private investment firm with ~$6 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the consumer, financial services, and industrials/business services sectors, often in companies that can benefit from the firm's Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs' Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience. For more information, visit www.cornellcapllc.com.

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