Oliver Wyman has announced that it has reached an agreement to acquire Innopay, a consultancy firm that focuses on providing its clients and users with digital transactions. Following this announcement, Innopay is expected to complement Oliver Wyman’s already existing payments consulting capabilities.
According to the official press release, the terms and conditions of the transaction were not disclosed by any of the companies. The acquisition is set to be closed before the end of Q1 2024.
Innopay represents an international consultancy company that was developed in order to provide companies around the world with the possibility to leverage the full potential of digital transactions and opportunities. The firm also delivers a broad range of secure and efficient propositions in several domains, such as digital payments, Open Finance, data sharing, and digital sharing.
At the same time, Innopay offers customers access to strategy, scheme development, and execution services, also incorporating an end-to-end offering in the payment sector. This capability was designed in order to improve the way companies, enterprises, and businesses identify and seize opportunities in the ever-evolving digital industry.
Through this acquisition, Innopay is expected to be incorporated into Oliver Wyman’s team as a specialist consulting business within the group’s overall European region. At the same time, the company will continue to operate in the Netherlands and Germany, while also maintaining its presence in the region of Amsterdam and Frankfurt. The CEO of Innopay will join as a Senior Vice President of Oliver Wyman and will be part of the firm’s payments leadership teams.
Innopay will also provide its global network and expertise in order to optimise Oliver Wyman’s overall ability to design and deliver new opportunities. Furthermore, the firms will prioritise the process of providing clients with the needed tools for safer navigation through the evolving landscape of digital transactions, as well as offering additional opportunities for partners and collaborators. Clients and users will also be enabled to access value through deep industry knowledge and multiple deals.
As the European payments landscape is currently undergoing significant and accelerated development and digitalisation, driven by regulatory laws, changing customer preferences, and technological advancements, the acquisition of Innopay will offer Oliver Wyman the possibility to accelerate the overall impact of its services and expertise on the industry. Both companies will focus on meeting the needs of their clients and users while remaining compliant with the regulations of the industry.
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