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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 is a Business Observability platform designed to help CIOs oversee their IT infrastructure. Asato gathers data from all IT assets to form a semantic layer that can be leveraged by AI & ML to automatically draw insights and recommend a course of action. This way CIOs can manage systems, users, compliance and respond to critical incidents with confidence, from a single dashboard. Many enterprises struggle to achieve the desired return on investment in their top three-line items: headcount, software, and infrastructure. Asato's platform discovers, connects, and contextualizes IT and Talent assets, equipping CIOs with the insights needed to make informed decisions about resource allocation, identify alternative solutions, and optimize investments.

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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