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Apartmentlove To Acquire Canadian Fintech Pioneer Processing Over $750 Million In Annual Transaction Volume

Jun 26, 2023•about 2 years ago

Acquiring Company

Apartment Love

Acquired Company

Pioneer

San FranciscoFinancial ServicesOtherSoftwareFood And BeverageConsumer Goods

Description

ApartmentLove Inc. (CSE: APLV) (OTCQB: APMLF) (“ApartmentLove” or the “Company”), a leading provider of online home, apartment, and vacation rental marketing services to property managers, owners, renters, and vacationers from around the world is pleased to announce the signing of a non-binding Letter of Intent (the “LOI”) to acquire a pioneer in the Canadian Financial Technology (“FinTec”) sector (the “Proposed Transaction”).

Company Information

Company

Apartment Love

About

The Company also now intends to complete a brokered private placement of its common shares in connection with the Acquisition and the Loan Facility, the details of which will soon be announced. Promoting rental properties in every major rental market in Canada and the United States, ApartmentLove has active rental listings in 30-countries on 5-continents around the world. Further to the press release issued October 28, 2021, announcing the signing of a non-binding letter of intent to acquire certain assets of Traffic2Revenue LLC dba iLS Network (the “Acquisition”), and the press release issued January 11, 2022, announcing a term debt facility of up to $10,000,000 (the "Loan Facility"); ApartmentLove is pleased to announce the closing of the second and final tranche of a non-brokered private placement of convertible debentures of the Company (the "Convertible Debentures") for aggregate gross proceeds of $753,000.

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