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Solvd Inc. Acquires EastBanc Technologies to Drive Its New AI-Strategy

Oct 07, 2024•10 months ago

Acquiring Company

Solvd

Acquired Company

EastBanc Technologies

Walnut CreekWashingtonInformation TechnologyGovernmentSoftware

Description

Solvd Inc., an end-to-end software engineering company and global technology consultancy, has announced the acquisition of U.S. based AI-consulting firm, EastBanc Technologies. This acquisition sets a clear course for Solvd's AI-driven strategy and new AI offerings, combining Solvd's robust engineering capabilities with EastBanc's core strengths in AI, Data, Infrastructure & DevOps, and Product Development.

Company Information

Company

Solvd

Location

Walnut Creek, California, United States

About

Solvd is an end-to-end software engineering and consulting company headquartered in California with over 800 employees located across Latin America, North America, and Europe. Solvd delivers exceptional engineering and digital solutions to Fortune 500 clients across high-growth industries including financial services, retail & e-commerce, healthcare & life sciences, social media, software, and more. The services list covers all aspects and needs of modern businesses, including software product development, digital experience & design, DevOps & cloud, data, and AI/ML services.

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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