Taxbit Announces Acquisition Of Digital Asset Accounting Startup Tactic
Jan 17, 2023•over 2 years ago
Acquiring Company
TaxBit, Inc.
Acquired Company
Tactic
Salt Lake City
LondonCommerce and ShoppingSoftwareFinancial ServicesScience And EngineeringData And AnalyticsInformation TechnologySoftwareDescription
TaxBit, the leading tax and accounting provider for the digital asset economy, today announces the acquisition of Tactic, a digital asset financial accounting platform that offers a streamlined accounting subledger to save businesses hundreds of hours on critical digital asset management and reporting. This acquisition will combine two leaders in the digital asset accounting space and establish TaxBit's New York office presence.
FundzWatch™ Score
61
High M&A Activity
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