Acquiring Company
Equitable Bank
Acquired Company
Concentra Bank
Description
Equitable Bank (the "Bank", "Canada's Challenger BankTM" or "Equitable"), a wholly owned subsidiary of EQB Inc. ("EQB") (TSX: EQB) (TSX: EQB.PR.C), today announced it has completed the acquisition of Concentra Bank (the "Acquisition") for a premium of $35.7 million to its $459.7 million book value of common equity, subject to final standard closing purchase price adjustments.
M&A Insights
Based on deal dataIntegration 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