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Momentum Acquires Shaffer Technologies

Aug 21, 2023•about 2 years ago

Acquiring Company

Momentum

Acquired Company

Shaffer Technologies

SacramentoManagement ConsultingFinancial ServicesSoftware

Description

Shaffer Technologies is now part of the Momentum family! What a great addition the Shaffer team and clients will make! Effective August 1, 2023, Momentum has entered into a definitive agreement to acquire Shaffer Technologies, Inc. Terms of the transaction were not disclosed.

Company Information

Company

Momentum

Location

801 K St

Sacramento, California, United States

About

Today, the company announced a $5 million seed round led by Basis Set Ventures with participation from Inovia Capital, Leadout Capital, South Park Commons and a group of industry angels. Momentum CEO and co-founder Santiago Suarez Ordoñez said the company originally wanted to build a deal room on top of Slack, but when Salesforce took that route in its first round of Slack integrations in August, the company decided to attack a different problem. The company just hired its 14th employee since closing the seed round in August. The company has a diverse founding team that includes Suarez Ordoñez’s wife — COO Ashley Wilson — and CTO Moiz Virani. The company said it takes building a diverse team extremely seriously. The company is now operating at least part of the time out of shared spaces, but he said that being together makes it feel more real to him.“Not that it wasn’t real half a year ago, [but the fact that] we couldn’t be together was just just a weird artifact of how the world was working,” he said.Scratchpad snags $13M Series A to simplify Salesforce data entry

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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