First Tek, Inc. completes acquisition of Cenergy International Services, Inc. to expand technology solutions portfolio
Apr 23, 2024•about 1 year ago
Acquiring Company
First Tek
Acquired Company
Cenergy International Services
PiscatawayHoustonInformation ServicesInformation TechnologyDescription
First Tek, Inc., a global technology company, successfully completed the acquisition of Cenergy International Services, Inc., a staffing and recruiting company specializing in providing experienced personnel for the energy, aerospace, defense, and chemical sectors. This acquisition aims to expand First Tek's technology solutions portfolio and enhance its expertise in serving the aforementioned sectors.
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