Account management for acquired accounts

Account management for acquired accounts

hi,
Looking for feedback on best practice.
What is the best way to manage account information when accounts created for an organisation have been acquired and a operate under a new legal entity.
If we overtype the old account name to the new account name (accounts module) , all historic records would be updated to reflect against the new account name, which would not be contractually correct.
Assuming we create a new account for the new acquired entity and load deals and  contacts on there?
Would be interested to hear how others manage this.
Thank you