Cox Enterprises Acquires Axios Media Inc.

Aug 08, 2022•about 3 years ago

Acquiring Company

Enterprises

Acquired Company

PreemptiveAI

SeattleBiotechnology

Description

Cox Enterprises announced the acquisition of Axios Media Inc., a company dedicated to delivering vital, trustworthy news and analysis in the most efficient ways possible. Cox Enterprises has a long history in media and is committed to scaling and expanding Axios into more cities, covering more national topics and more premium niches for professionals. This acquisition follows a previous investment by Cox Enterprises in the fall of 2021 and is part of Cox's ongoing goal to grow and diversify the company.

Company Information

Company

Enterprises

About

Cox Enterprises is dedicated to building a better future through our leading communications, automotive and media companies. Our major operating subsidiaries include Cox Communications and Cox Automotive, and we are strategically investing in new industries and emerging technologies, with sizeable interests in cleantech. Headquartered in Atlanta, Georgia, Cox is a global company with $20 billion in annual revenues. Founded in 1898 by Ohio Governor James M. Cox, the company is a family-owned business committed to its people, communities and planet. To learn more about Cox, visit coxenterprises.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