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ServicePoint completes acquisition of High Wire's Technology Services Division

Jun 27, 2024about 1 year ago

Acquiring Company

ServicePoint

Acquired Company

High Wire Networks

New JerseyBatavia

Description

ServicePoint has successfully completed the carve-out acquisition of High Wire's Technology Services Division, marking a strategic move to enhance its technological capabilities and expand its market presence.

Company Information

Company

ServicePoint

Location

New Jersey, United States

About

ServicePoint, a portfolio company of Mill Point Capital LLC, has announced the acquisition of Smart Source LLC. This strategic acquisition enhances ServicePoint’s service capabilities, customer reach, and operational scale across its geographic footprint.

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