Evolv completes acquisition of EnzoPay to expand its presence in the Mid-Atlantic region
Dec 03, 2024•8 months ago
Acquiring Company
Evolv
Acquired Company
EnzoPay
NewburghFredericksburgFintechFinancial ServicesFinancial ServicesSoftwareDescription
Evolv, a leader in payment acceptance solutions, has successfully acquired Virginia-based EnzoPay. With this strategic move, EnzoPay transitions to operate as Evolv Mid-Atlantic, strengthening Evolv's distribution network and leadership position, while paving the way for innovative payment solutions and accelerated growth in the Mid-Atlantic region.
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