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Falfurrias-Backed Crosslake Technologies Announces Second Acquisition In Less Than A Year With Purchase Of Renna Partners

Jan 04, 2022•over 3 years ago

Acquiring Company

Crosslake Technologies

Acquired Company

Crosslake Technologies

CharlotteCharlotteInformation TechnologySoftwareInformation TechnologySoftware

Description

Crosslake Technologies, a leader in providing data-driven technology advisory services to private equity firms and their portfolio companies, announced it has completed its second acquisition in a year with the purchase of Renna Partners. The move comes just 12 months after Crosslake was acquired by Charlotte-based private equity firm Falfurrias Capital Partners in December 2020. Terms of the deal, which closed at the end of December 2021, were not disclosed.

Company Information

Company

Crosslake Technologies

Location

Charlotte, North Carolina, United States

About

Crosslake originated in 2010 to become the world's most relevant firm for technology investors and management teams looking to buy, build, and run technology that creates value. Our unmatched practitioner community of former CTOs, CIOs, architects, and engineers guides actionable, business-focused technology decisions – underscored by objective TechIndicators® from our proprietary dataset of 4,000+ prior tech M&A transactions. In-house delivery teams bring strategic initiatives to life, with Build solutions for bespoke software and technology to enable business transformation, and Cyber solutions to address security weaknesses and risks in software and code quality. It's clear why Crosslake is the firm investors rely upon to make technology make a difference.

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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