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Servify Acquires 247Around, An At-Home Service Platform Specialising In Connecting Consumers With Oems’ Service Network

Feb 22, 2022over 3 years ago

Acquiring Company

Servify

Acquired Company

Service Network

MumbaiAppsSoftware

Description

Servify, a Mumbai based startup that works with multiple OEMs globally as their partner in delivering superior product ownership experience, announces the acquisition of 247around, a unique service platform in India, that specialises in at-home service of home appliances, consumer electronics & white goods. This acquisition will further strengthen Servify’s service fulfilment network beyond smart products and help its expansion into new product categories.

Company Information

Company

Servify

Location

Mumbai, Maharashtra, India

About

Servify works with multiple OEM brands globally and integrates its product lifecycle platform to run their extended coverage and smart exchange/upgrade programs. The Mumbai headquartered company has spread its reach to multiple countries (US, Canada, EU, UK, Turkey, Russia, UAE, KSA and other GCC countries) in a short span of 6 years, and has partnered with over 50 OEM brands and thousands of their ecosystem partners. The Servify platform processes more than 3 million transactions monthly, with over 250k Platform users spread across retailers, service centres, contact centres and administration teams worldwide serving millions of consumers. Additional information on Servify is available at www.servify.tech

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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