SkySparc AB, a leading business consultancy with a focus on driving value for corporates and financial institutions, has announced the acquisition of infiniance, another finance consultancy based in Denmark, and with a subsidiary in Pune. infiniance offers treasury management consultancy for the corporate finance sector. It partners with software solutions such as Bellin, FIS, Kyriba, SAP, Serrala, Treasury Systems and AccessPay.
The deal will see SkySparc create one of the leading treasury consultancies in the Nordics. Terms of which were not disclosed. The combined organisation will have offices in Sweden and Denmark as well as the US and Asia. infiniance also brings a roster of clients across the Nordics, the Netherlands and the UK. Customers include AAK, Danske Commodities and Polestar.
infiniance was founded in 2013 with a vision to become the preferred consulting house in the Nordics in Finance, Treasury & Financial Technology. In combination with SkySparc, it perhaps has now achieved that vision. While four of the co-founders, Lone Kejser, Vidar Johannesson, Morten Winther and Henrik Juhler, are still with infiniance, it is unclear what will happen once the dust has settled.
Henrik Juhler, Co-Founder and Managing Partner, infiniance, said, “infiniance is pleased to enhance our service offerings in the Nordics and now be able to offer consultants in even more locations, including local offices in Stockholm and Gothenburg. This expansion enables us to utilize SkySparc’s global reach and provide additional services.
“This partnership also allows us to integrate SkySparc’s robust technological solutions into our service offerings to Danish clients. With access to even more highly skilled Treasury consultants, the acquisition only reinforces our commitment to delivering high-quality, strategic resources to our clients.”
SkySparc strengthens
The deal sees SkySparc significantly strengthen its consulting capability, most notably around FIS. For which infiniance is a Silver-level implementation partner. With SkySparc also having expertise in FIS, will this enable it to shift up to a gold-level partner. The combined organisation will also add a significant presence in Denmark. Thus enabling it to offer a more comprehensive suite of services across the Nordics and beyond.
SkySparc already offers strategy & transformation, Data & Analytics, as well as business technology services. The addition of the infiniance consultants, will strengthen and broaden these offerings.
SkySparc intends to leave the business in Denmark to continue operating. It uses the phrase “business as usual”, which is unclear what, if any, changes will be made to operations. However, SkySparc is keen to see infiniance offer its software solution, OmniFi, through infiniance. It will also extend its 24/7 support services for infiniance customers to take advantage of.
Joakim Wiener, CEO, SkySparc, said, “Combining strengths with infiniance enables SkySparc to offer our clients a broader range of expertise and a more robust partnership in today’s challenging environment. With infiniance’s advanced capabilities in treasury and risk management, working capital, payment solutions, and compliance, we enhance our ability to support our clients through critical transitions and technological migrations. We are excited to integrate infiniance’s strengths with our own, delivering a more comprehensive and resilient service portfolio that addresses the ever-evolving needs of our clients.”
The deal was backed by the majority shareholder in SkySparc, Bragnum Invest, which acquired the stake in 2019. Management and staff own minority stakes in the business. Will SkySpark extend this to infiniance employees as part of the deal?
Enterprise Times: What does this mean
For Skysparc, this seems a logical acquisition that will enable it to expand its reach across the Nordics. This will also strengthen its technology capabilities in adjacent areas. A stronger relationship with FIS and, perhaps more notably, SAP is a positive move. With many enterprises leveraging Rise with SAP to migrate to SAP S/4HANA, there should be opportunities there for the larger organisation.
According to LinkedIn, infiniance has around 20 employees, compared to around 80 on the SkySparc LinkedIn site. This is a sizeable acquisition, but not one that will create too much friction. It will be interesting to see how the services of the combined firms evolve over the next year. The tone of Juhler’s quote infers more a federated structure with more of a partnership than acquisition. Will that continue?
