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OV Loop acquires Skipti to facilitate efficient and sustainable transportation

Jul 22, 2024•12 months ago

Acquiring Company

OV Loop

Acquired Company

Skipti

WoburnBostonFintechE CommerceSoftwareInformation Technology

Description

OV Loop has announced the acquisition of Skipti, a transportation facilitator focused on helping drivers, retailers, and consumers schedule, deliver, and return rentable products. This acquisition accelerates OV Loop’s journey to build America's SuperApp commerce network, strengthening its capabilities in facilitating efficient and sustainable transportation.

Company Information

Company

OV Loop

Location

Woburn, Massachusetts, United States

About

OV Loop, Inc. is America’s only cross platform tap & pay wallet/super-app and omnichannel commerce platform for people, merchants, and brands. It helps merchants and brands directly reward and engage users via users’ private self-custody wallet and helps consumers protect their identity while allowing them to tap & pay with their private cash at more places than Apple Pay, Google Pay, and Samsung Pay combined. OV Loop empowers people to protect their own digital identities and to shop and save from brands in their Loop more seamlessly. It improves user experiences and unit economics for all parties in the Loop to create powerful network effects not possible with standalone apps.

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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