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Marqeta Announces Agreement To Acquire Power Finance, Inc.

Jan 30, 2023•almost 3 years ago

Acquiring Company

Marlabs LLC

Acquired Company

Power Finance

PiscatawayProfessional ServicesInformation TechnologySoftware

Description

Marqeta (NASDAQ: MQ), the global modern card issuing platform, announced today that it has entered into an agreement to acquire credit card program management platform Power Finance, Inc. (“Power”). The deal is expected to close in the first quarter of 2023, subject to the satisfaction of customary closing conditions.

Company Information

Company

Marlabs LLC

Location

Piscataway, New Jersey, United States

About

Marlabs designs and develops advanced digital solutions that help our clients improve their business outcomes swiftly and precisely. We succeed by harnessing the power of the Digital Collective™, which brings together design-led digital innovation with human experience, composable digital platforms, and our collaborative ecosystem of first-class technology partners and innovators.

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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