Onfolio Holdings Inc. Completes Acquisition Of Proofread Anywhere, Inc.
Oct 17, 2022•almost 3 years ago
Acquiring Company
Onfolio Holdings
Acquired Company
Proofread Anywhere
Description
Onfolio Holdings, Inc. (Nasdaq: ONFO, ONFOW) (“Onfolio”), a holding company that acquires and manages a diversified portfolio of online businesses across a broad range of verticals, today announced the completion of its acquisition of Proofread Anywhere and its related assets from BCP Media, pursuant to an agreement entered into on October 13, 2022. The transaction closed the following day, October 14, 2022.
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