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Cuentas Announces The Acquisition Of A 28.5 Acre Property In Ocala, Florida, Targeted For The Next Phase Of Its Cuentas Casa Sustainable Community Initiative,While Releasing Exclusive Renderings Of Its Latest Property, Arden By Cuentas Casa, Now In Development Near Tampa

Jun 06, 2023•over 2 years ago

Acquiring Company

Cuentas Casa

Acquired Company

Digital Prime Technologies

United KingdomReal EstateFinancial ServicesPaymentsFinancial ServicesSoftware

Description

Cuentas, Inc. (Nasdaq: CUEN) (Nasdaq: CUENW) ("Cuentas"), the Company that is creating an alternative financial ecosystem for a hard working population who do not have access to traditional financial alternatives, today announced that it is adding to its Cuentas Casa Portfolio with the acquisition of 28.5 acres of mixed-use land contemplated for development of 648 multi-family apartments and 180 townhomes. At the same time, Management released Renderings of its Arden by Cuentas Casa, near Tampa, Florida, a full community already in development, illustrating the beauty and power of its concept of "Affordable Communities". Management expects to make more announcements of property acquisitions in the coming months.

Company Information

Company

Cuentas Casa

About

Cuentas Casa is the new initiative from Cuentas, the Company that is building a growing set of financial and social solutions for the underserved. Cuentas Casa developments combine sustainability, accessibility and affordability. Cuentas Casa partners with leading edge developers and construction technology companies to create sustainable, inclusive and affordable residential communities specifically designed to provide high quality housing alternatives at extremely competitive pricing. Cuentas Casa launched in Q1 2023 with the Lakewood project, followed by the Brooksville project. The company's goal is to source land zoned and ready for development of multi-family buildings in strategic areas where rental prices are increasing dramatically, placing financial stress and pressure on working class families. Cuentas strives to provide reasonable solutions for both housing and necessary financial solutions for underserved and working class families.

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