logo
logo

Icoreconnect Closes Highly Accretive Acquisition Of Spectrum Technology Solutions

Sep 15, 2021•almost 4 years ago

Acquiring Company

iCoreConnect

Acquired Company

Spectrum Technology Solutions

Ocoee

Description

via NewMediaWire -- iCoreConnect, Inc. (OTCQB: ICCT), a cloud-based, Software as a Service (SaaS) platform for healthcare business workflow, is pleased to announce the closing of its acquisition of Spectrum Technology Solutions. Spectrum Technology Solutions provides Managed Services, Data Backup, Data Discovery, Strategic IT Leadership & vCIO, Cloud Services, Cybersecurity and Encryption. These comprehensive services are seamlessly integrated into its client’s business operations and aligned with their business models, so that goals can be reached more efficiently.

Company Information

Company

iCoreConnect

Location

Ocoee, Florida, United States

About

iCoreConnect Inc. is a leading, cloud-based software and technology company focused on increasing workflow productivity and practice profitability through its enterprise and healthcare workflow platform of applications and services. iCoreConnect is most notably known for its innovation in solving healthcare business problems. iCoreConnect’s philosophy places a high value on customer feedback, positioning iCoreConnect to respond to the market’s needs. iCoreConnect touts a platform of 16 SaaS enterprise solutions and more than 100 product endorsements with state or regional healthcare associations across the United States.

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