Riot Platforms acquires 12% stake in Bitfarms despite Kerrisdale Capital's shorting pressure
Jun 06, 2024•about 1 year ago
Acquiring Company
Riot Games
Acquired Company
Stronghold Digital Mining
Description
Colorado-based Riot Platforms has successfully acquired a 12% stake in Bitfarms, a move contested by Kerrisdale Capital. Riot aims to exert influence on Bitfarms' operations and governance, as indicated by its plan to call a special meeting and nominate directors.
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