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Ev Battery Tech Announces Acquisition Of Blockchain-Based, Crypto-Compatible Smart Phone Application

Oct 22, 2021•over 3 years ago

Acquiring Company

EV Battery Tech

Acquired Company

Blockchain-BasedPhone Application

EnergySustainabilitySoftware

Description

Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC) (OTCQB: CRYBF) is pleased to announce that it has entered into a Share Exchange Agreement (the “Agreement”) to acquire CryptoPlug Technologies Inc. (“CryptoPlug”), an entity developing a blockchain-based, crypto-compatible application for smartphones (the “Application”).

Company Information

Company

EV Battery Tech

About

Extreme Vehicle Battery Technologies Corp. is a blockchain and battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing Electric Vehicle (EV) and Energy Storage Solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries. Learn more at evbattery.tech

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