Cornerstone Advisors Acquires Banksmart

Jul 12, 2023•over 2 years ago

Acquiring Company

Cornerstone Advisors

Acquired Company

BankSmart

ScottsdaleFinancial ServicesConsulting

Description

Cornerstone Advisors, a leading management and technology consultancy for banks, credit unions and fintech firms, today announced the acquisition of BankSmart, a consulting firm specializing in bank operations, vendor selection, project management solutions and payments.

Company Information

Company

Cornerstone Advisors

Location

Scottsdale, Arizona, United States

About

Cornerstone Advisors, a management and technology consulting firm, brings innovative insights and strategic execution to banks, credit unions and fintech companies, helping them reach the next level of performance. For more information, visit https://www.crnrstone.com or find us on LinkedIn.

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

Cornerstone Advisors Acquires Banksmart

Description

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M&A Insights

Company Information