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Cosmic Wire Acquires Dubai Based Artsgalore For $31.5 Million

Mar 28, 2022•over 3 years ago

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.

Company Information

Company

Cosmic Wire

About

Cosmic Wire is a platform agnostic Web3 company that offers brands, celebrities, artists, and IP collectors the ability to enhance, promote, license, and sell their work. Cosmic Wire expands the value of iconic physical and digital assets using tools such as blockchain, NFTs, and immersive experiences. Staffed by some of the very best in the industry, Cosmic Wire's completely internalized development, marketing, and sales teams support clients from concept to close. One unique and key Cosmic Wire advantage is a client contract that provides a shared experience of success for Cosmic Wire and their clients. https://www.cosmicwire.com Facebook: https://www.facebook.com/cosmicwireTwitter: https://www.twitter.com/cosmicwireincInstagram: https://www.instagram.com/cosmicwireincDiscord: https://discord.gg/cosmicwire SOURCE Cosmic Wire

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