Invenio Business Solutions and LSI Consulting – the market-leading SAP solutions providers – have today announced they are merging, in a move that will deliver significant benefits to existing customers and drive growth globally.
Invenio is a global provider of SAP enterprise solutions and consultancy for the public sector focused on tax and revenue management and for the private sector focused on media and entertainment, manufacturing and pharmaceutical domains. US-based LSI Consulting is a leading provider of SAP enterprise solutions to government, utility, healthcare and educational institutions.
Invenio secured investment from BGF – the UK and Ireland’s most active investor – in 2019 to support the business’s continued growth. To support the merger with LSI Consulting, Invenio has now announced further follow-on funding from BGF.
The merger brings together two well-established, high growth SAP implementation and consultancy partners with compatible SAP-based solutions for the public and private sectors. Invenio has a strong presence in Europe, the Middle East and Asia Pacific, while LSI has a strong position in the United States and Canada. Both companies are of similar size, with proforma revenues for year ending March 31, 2021 expected to be north of $100 million.
The newly merged organisation will act as the premier global SAP partner for public services. Customers will benefit from end-to-end business solution and service portfolios to help them maximise the value of their digital transformation and reach success faster in the public sector. Invenio already has a significant presence in the media, manufacturing, logistics and pharma industries and will now accelerate growth in North America.
The new business will operate as a single entity while maintaining its respective brands. Accordingly, 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.
Bala, group CEO of Invenio, commented: “Our growth is driven by a deep sense of commitment to customer and employee success, and by a vision to be recognised as one of the best technology consulting companies in the world in our chosen domains and markets. Our aspiration is to deliver our unique offerings for the public sector focused on tax and revenue management and for the private sector focused on media and entertainment, manufacturing and pharmaceutical domains to customers across the North American market, thereby establishing a global footprint and achieving significant growth. We’re delighted to join forces with LSI, a well-respected SAP-based provider in public services with a track record of delivering success in the North American market. Our customers will now benefit from an expanded end-to-end solution and service portfolio to help them succeed with their digital transformation goals. Our remarkable alignment in values and culture will help the combined organisation deliver even greater value to our customers, markets and employees.”
Roach, CEO of LSI, added: “Public services are in a period of revolution, where truly breakthrough digital transformations are being conducted at a breadth and pace like never before. As a long-term partner to regulated industries, our purpose is to accelerate the impact of these advancements through deep customer partnerships and by leveraging secure and cutting-edge technologies engineered by SAP to create the intelligent public enterprise. Invenio is a highly regarded player in the tax and revenue management space and shares our commitment to solution-oriented customer partnership and a superlative customer experience. 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. We’re proud to join forces with their first-class team and to continue our journey together.”
Snodgrass, investor at BGF, said: “Invenio is a fantastic, fast-growing business which has created a market-leading position. The merger with LSI, which has been supported by an additional £12m in follow-on funding from BGF, is an exciting step for both businesses and represents the next step in their exciting expansion plans. We look forward to working with Steve Roach and the team at LSI and to continue supporting the newly merged organisation as it moves to its next phase of growth.”
Invenio and LSI’s customers include some of the largest global public enterprises, as well as the world’s top media, manufacturing, and pharmaceutical brands. The combined entity boasts 1,000+ employees with offices across four continents.
The expanded capabilities of the new organisation, which has SAP, Amazon Web Services, Microsoft Azure and Google Cloud Platform accreditations, include:
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