CardWorks and Merrick Bank complete acquisition of GreenSky, LLC to strengthen strategic relationship
May 29, 2024•about 1 year ago
Acquiring Company
CardWorks
Acquired Company
GreenSky
Description
CardWorks, Inc. and its subsidiary, Merrick Bank, have completed the acquisition of GreenSky, LLC, as part of a broader strategic relationship. The acquisition includes an equity investment, loan participation purchase, and forward flow agreement, demonstrating CardWorks' commitment to pursuing inorganic growth opportunities and expanding its business.
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