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Icoreconnect Closes Highly Accretive Acquisition Of Spectrum Technology Solutions

Sep 15, 2021•about 4 years ago

Acquiring Company

iCoreConnect

Acquired Company

Spectrum Technology Solutions

Ocoee

Description

via NewMediaWire -- iCoreConnect, Inc. (OTCQB: ICCT), a cloud-based, Software as a Service (SaaS) platform for healthcare business workflow, is pleased to announce the closing of its acquisition of Spectrum Technology Solutions. Spectrum Technology Solutions provides Managed Services, Data Backup, Data Discovery, Strategic IT Leadership & vCIO, Cloud Services, Cybersecurity and Encryption. These comprehensive services are seamlessly integrated into its client’s business operations and aligned with their business models, so that goals can be reached more efficiently.

Company Information

Company

iCoreConnect

Location

Ocoee, Florida, United States

About

iCoreConnect is a cloud-based software and technology company focused on increasing profit and operational speed in high-compliance industries. iCoreConnect is most notably known for its innovation in solving healthcare business problems. The company’s philosophy places a high value on customer feedback, allowing iCoreConnect to respond to the market’s needs. iCoreConnect touts a platform of more than a dozen SaaS enterprise solutions and more than 40 agreements with state or regional healthcare associations. iCoreConnect is a member of the prestigious StartUp Health accelerator.

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