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CardWorks and Merrick Bank complete acquisition of GreenSky, LLC to strengthen strategic relationship

May 29, 2024about 1 year ago

Acquiring Company

CardWorks

Acquired Company

GreenSky

AtlantaFintechFinancial ServicesE Commerce

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.

Company Information

Company

CardWorks

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