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Ust Acquires Prodigy Labs, Enhancing Its Ability To Drive Digital Transformation In The Financial Sector In Canada

Jan 31, 2023•almost 3 years ago

Acquiring Company

UST

Acquired Company

Prodigy Ventures

Messaging

Description

UST, a leading digital transformation solutions company, has acquired TCB Corporation, a Canadian technology service company that operates under the name of Prodigy Labs, as part of a deal with Prodigy Ventures Inc. (TSXV: PGV) that will be worth up to CAD12.5 million. A leading provider of innovative technology solutions, Prodigy Labs plays an active role helping financial services firm drive comprehensive digital transformation campaigns. The acquisition significantly strengthens UST's position in the financial services sector.

Company Information

Company

UST

About

For more than 22 years, UST has worked side by side with the world's best companies to make a real impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients' organizations—delivering measurable value and lasting change across industries and around the world. Together, with over 28,000 employees in 25 countries, we build for boundless impact—touching billions of lives in the process. Visit us at ust.com.

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