Foundry To Acquire Two Turnkey Mining Facilities From Compute North, Plus Right To Acquire Third Facility Under Development
Nov 22, 2022•about 3 years ago
Acquiring Company
Foundry
Acquired Company
Two Turnkey Mining Facilities
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.
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