Veritas Farms Acquires Asystem And Asystem Labs As Part Of Growth Strategy To Build The Next Generation Of Innovative Wellness Brands
Aug 28, 2023•over 2 years ago
Acquiring Company
Veritas Farms, Inc.
Acquired Company
Asystem, Inc.
Description
via NewMediaWire -- Veritas Farms, Inc. (OTCQB: VFRM), a leading wellness brand within the hemp/CBD space, has announced today that it has completed the acquisition of innovative, science-forward supplements brand ASYSTEM and their product development arm, ASYSTEM Labs.
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