Acquiring Company
Cosmic Wire
Acquired Company
ArtsGalore
AppsMobileSoftwareFinancial Services
Description
Web3 Technology leader Cosmic Wire has acquired Dubai-based ArtsGalore for $31.5 Million dollars. ArtsGalore specializes in fine art and one-of-a-kind custom automotives and develops NFTs focused on their renowned collection to the Metaverse. Company founder, Mohamedali Rashid, joins Cosmic Wire as Chief Revenue Officer.
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