logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

Scope Carbon Announces Letter Of Intent For Proposed Acquisition Of Farm Flight, Inc. And Expanding Its Network In North America

Apr 27, 2023over 2 years ago

Acquiring Company

Scope Carbon

Acquired Company

Farm Flight, INC

TucsonArtificial IntelligenceInformation Technology

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").

Company Information

Company

Scope Carbon

About

Scope is a carbon mapping technology company located in Vancouver, British Columbia and is focused on the commercial development of its AI-driven image software, which the Company intends to use for the identification and estimation of carbon-based lifeforms and carbon emissions, both key components in the identification of carbon credits.

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