Sp Plus Corporation Acquires Assets Of Divrt, Inc., An Innovator In Frictionless Parking Technology
Nov 10, 2022•almost 3 years ago
Acquiring Company
SP Plus
Acquired Company
Innovator
Description
SP Plus Corporation (Nasdaq:SP), a leading provider of technology-driven mobility solutions for aviation, commercial, hospitality and institutional clients, announced that it has acquired certain assets of DIVRT, Inc.(“DIVRT”), a developer of innovative software and technology solutions that enable frictionless parking capabilities. SP+ has acquired all the intellectual property of DIVRT and a talented team of over 20 technology engineers based in India.
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