Velocity Cycling App Acquires Perfpro Software And Adds Drew Hartman To Team
Aug 17, 2021•almost 4 years ago
Acquiring Company
Vision Quest Virtual LLC
Acquired Company
PerfPro Software
Description
Vision Quest Velocity LLC, a performance-driven cycling app, has acquired PerfPro Software Suite and added Drew Hartman, founder of PerfPro and Hartware Technologies, to the Velocity team.
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