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Riot Platforms acquires 12% stake in Bitfarms despite Kerrisdale Capital's shorting pressure

Jun 06, 2024about 1 year ago

Acquiring Company

Riot Games

Acquired Company

Stronghold Digital Mining

TorontoAnalytics

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.

Company Information

Company

Riot Games

About

Riot Games is a video game developer known for creating popular games like League of Legends. Established in 2006, it focuses on player experience and community engagement. The company emphasizes creativity and innovation in game development.

M&A Insights

Based on deal data
Integration 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

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