Originclear’S Water On Demand Subsidiary Closes Acquisition Of Fortune Rise Sponsor, Llc
Dec 29, 2022•almost 3 years ago
Acquiring Company
Water On Demand Subsidiary
Acquired Company
Fortune Rise Sponsor
Description
OriginClear Inc. (OTC Pink: OCLN), the Clean Water Innovation HubTM, announces that its subsidiary, Water On Demand, Inc. (“Water On Demand” or “Company”) (www.waterondemand.net), has closed the acquisition of Fortune Rise Sponsor, LLC, a Delaware limited liability company (the “Sponsor”), which is the sponsor of Fortune Rise Acquisition Corp. (NASDAQ: FRLA) (the “SPAC”).
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