Itx Corp. Acquires Philadelphia-Based Sumo Heavy

Sep 26, 2023•almost 2 years ago

Acquiring Company

ITX

Acquired Company

SUMO Heavy

Software

Description

ITX Corp., an award-winning custom software development firm, is excited to announce the acquisition of SUMO Heavy, a Philadelphia-based provider of customized eCommerce solutions serving global clients of all sizes, from startups to Fortune 1000 organizations. The addition of SUMO Heavy deepens ITX's existing eCommerce knowledge and complements their other specializations in healthcare and financial services.

Company Information

Company

ITX

About

ITX helps mid- to large-sized companies tackle complex business challenges through custom software development, delivering solutions that build trust, loyalty, and advocacy among clients and their users. Remote-first since 1997, the company was recently named a Best Company to Work For in the State of New York. ITX has expanded beyond its roots in Rochester, NY into a team of nearly 300 talented product professionals and technologists throughout the Americas and beyond. Visit itx.com for more. Media Inquiries: Kyle Psaty, Vice President of Marketing 585.899.4895 | Career Inquiries 585.899.4888 SOURCE ITX Corp.

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