SAP cloud services specialist Invenio Business Solutions has acquired US SAP Gold Partner LSI Consulting with the backing of the Business Growth Fund (BGF), to expand its services offering to enterprises and the public sector globally. Invenio is a provider of SAP enterprise solutions and consultancy for the public sector, media and entertainment, manufacturing and pharmaceuticals segments.
LSI Consulting is a provider of SAP enterprise solutions to government, utilities, healthcare and educational institutions.
Reading, Berkshire-headquartered Invenio secured a £11.6m investment from BGF in 2019 to facilitate its continued growth. To support the capture of LSI Consulting BGF has now confirmed a £12m follow-on investment in Invenio. The deal “brings together two well-established, high growth SAP implementation and consultancy partners with compatible SAP-based solutions”, said BGF.
Invenio has a strong presence in EMEA and the Asia Pacific region, while LSI is currently focused on the US and Canada. Both companies are of similar size, with combined revenues for year ending 31 March 2021 expected to be north of $100m.
The new business will operate as a single entity while maintaining its respective brands. The Invenio board of chairman Geoff Neville, group CEO Arun Bala, CFO Steve Coxhead and BGF investor Alex Snodgrass will be joined by CEO of LSI Steve Roach.
Arun Bala (pictured) said: “Our aspiration is to establish a global footprint and achieve significant growth. Our customers will now benefit from an expanded end-to-end solution and service portfolio to help them succeed with their digital transformation goals.”
Steve Roach added: “We will leverage our collective history and complementary solutions to enable our customers’ success and ultimately to improve the lives of constituents around the globe.”
The combined entity has over 1,000 employees with offices across four continents, with accreditations for SAP, Amazon Web Services, Microsoft Azure and Google Cloud Platform.
