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Nexgen Technologies Expands As Ceo Joseph Jacoboni Acquires Walkabout Workplace, A Remote Employee Management Platform

Dec 01, 2022over 2 years ago

Acquiring Company

Viridios Capital

Acquired Company

WALKABOUT WORKPLACE

SydneyAngel InvestmentVenture Capital

Description

NexGen Technologies announces the launch of NexGen Virtual following its acquisition of Walkabout Workplace. Originally making its debut in 2016, Walkabout Workplace presented an opportunity for remote teams to work together in a simulated virtual office environment. Their mission was to create a similar sense of culture and community present in in-person workplaces. Designed before the Covid-19 pandemic forced much of the workforce to go remote, it was uniquely positioned to take advantage of the sudden shift to remote work conditions.

Company Information

Company

Viridios Capital

Location

Sydney, New South Wales, Australia

About

In this effort, the company received backing from some impactful investors, including ROC Partners and Privatus Capital Partners, which was set up by James McMurdo, a one-time executive at Goldman Sachs.

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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