Acquiring Company
Goodsurf
Acquired Company
Citywave North America
Description
Today, Urban Entertainment Concepts ("UEC"), through its subsidiary, Goodsurf – together with Action Team Veranstaltungs GmbH ("ATV") – announces Goodsurf's acquisition of Citywave North America, including all intangible property, rights, and responsibilities of Citywave throughout the US, Canada, Mexico, and Caribbean. Citywave is the leading stationary surf wave company in the world with 15 installments in Europe, Asia, the Middle East, and the United States. The transaction closed on September 16, 2022.
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