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Foundry To Acquire Two Turnkey Mining Facilities From Compute North, Plus Right To Acquire Third Facility Under Development

Nov 22, 2022about 3 years ago

Acquiring Company

Foundry

Acquired Company

Two Turnkey Mining Facilities

Palo AltoInformation Technology

Description

Foundry Digital LLC ("Foundry" or the "Company"), a wholly-owned subsidiary of Digital Currency Group ("DCG"), focused on digital asset mining and staking, announced today that it has entered into an asset purchase agreement to acquire two turnkey cryptocurrency mining facilities and other assets, and an option to acquire a third facility that is under development, from large-scale computing infrastructure company Compute North.

Company Information

Company

Foundry

Location

Palo Alto, California, United States

About

A new breed of public cloud, backed by an orchestration platform that makes accessing AI compute as easy as turning on the light.

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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