Scope Carbon Announces Letter Of Intent For Proposed Acquisition Of Farm Flight, Inc. And Expanding Its Network In North America
Apr 27, 2023•over 2 years ago
Acquiring Company
Scope Carbon
Acquired Company
Farm Flight, INC
Description
Scope Carbon Corp. (CSE: SCPE; OTCQB: SCPCF, Frankfurt: VN8) ("Scope" or the "Company") a carbon mapping technology provider utilizing image recognition technology, is pleased to announce that it has entered into a non-binding letter of intent (the "Letter of Intent") to acquire Arizona-based Farm Flight, Inc. ("Farm Flight"), a pioneer of image based crop data and analytics in an arms-length all-share acquisition valued at approximately USD $14,500,000 (the "Transaction").
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