Raymond James Financial To Acquire Sumridge Partners

Mar 28, 2022•over 3 years ago

Acquiring Company

Asato.ai

Acquired Company

SumRidge Partners

SaratogaInformation Technology

Description

Raymond James Financial, Inc. (NYSE: RJF) announced today that it has reached an agreement to acquire SumRidge Partners, LLC, a top ranked, technology-driven fixed income market maker specializing in investment-grade and high-yield corporate bonds, municipal bonds and institutional preferred securities. The transaction is subject to certain regulatory and other closing conditions.

Company Information

Company

Asato.ai

Location

Saratoga, California, United States

About

Asato's Business Observability Platform helps CIOs and their teams to see, understand, and optimize their enterprise's software, hardware and business assets to drive meaningful business outcomes. The platform integrates data, insights, and decision-making workflows into a single cognitive layer. This layer, accessible through LLM-powered AI agents, serves as the mission control for CIO teams, empowering them to achieve operational excellence.

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

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