SAP consultancy Invenio merges with counterpart LSI Consulting
Reading-based consultancy Invenio has merged with US-based LSI Consulting. The move combines two fast growing SAP implementation specialists, with presences across Europe, the Middle East, Asia Pacific, and North America.
Founded in 2006, Invenio is a technology consultancy which solves complex business challenges with innovative digital solutions, based on SAP technology. The Reading based company has outlets in Mauritius, Saudi Arabia, the UAE, Jordan, India, Fiji, and the US, with a global headcount of around 1,000 people.
In 2019, Invenio secured investment from BGF – the UK and Ireland’s most active investor – to support the business’s continued growth. The latest chapter in this expansion is a merger with US headquartered consultancy LSI Consulting – which Invenio has received further follow-on funding from BGF to secure.
Arun 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... 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.”
The move will enable Invenio to better deliver its offerings focused on tax and revenue management to customers across the North American market – the world’s largest consulting market – thereby establishing a global footprint and achieving significant growth. Both companies are of similar financial size, with proforma revenues for year ending 31st March 2021 expected to be north of $100 million. 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.
Roach said, “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.”
Public services are in a period of revolution, where truly breakthrough digital transformations are being conducted at a breadth and pace like never before. Since its inception in 1998, LSI Consulting has become synonymous with cost-effective ERP and performance management solutions in this area of the market in particular. With more than 120 employees in its offices in the US and Canada, LSI has been developing and configuring SAP software specific for public sector, education and healthcare markets for over 20 years, and continues to transform public organisations by leveraging SAP's next-generation HANA technologies.
The expanded capabilities of the new organisation, which has SAP, Amazon Web Services, Microsoft Azure and Google Cloud Platform accreditations, include leading tax and revenue management solution and service offerings. The combined firm also possesses accelerated template-based ERP solutions specifically adapted for public services, and unique solutions for manufacturing and pharmaceutical companies.
