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Patrick Industries, Inc. Completes Acquisition Of Bti Transport

May 01, 2023•about 2 years ago

Acquiring Company

rabbit inc.

Acquired Company

BTI TRANSPORT

Santa MonicaNatural Language ProcessingMachine LearningArtificial Intelligence

Description

Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Leisure Lifestyle and Housing markets, announced today that it has completed the acquisition of Elkhart, Indiana-based BTI Transport ("BTI"), a leader in marine transportation. The company, which will now operate as Patrick Marine Transport, further strengthens Patrick's position as a leading provider of transportation and logistics services to OEMs and dealers in the leisure lifestyle markets.

Company Information

Company

rabbit inc.

Location

1710-1716 12TH STREET

Santa Monica, California, United States

About

rabbit inc. is an AI startup developing a personalized operating system (OS) through a natural language interface and dedicated, affordable consumer hardware to host the OS. The OS, called rabbit OS, is capable of understanding complex user intentions, operating user interfaces, and performing actions on behalf of the user. The key technology powering rabbit OS is the Large Action Model (LAM), a new type of foundation model that understands human intentions on computers.

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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