Acquisition of payment advisory firm complements Oliver Wyman's existing payments consulting capabilities.
Oliver Wyman, a global management consultancy, and a business of Marsh McLennan (NYSE:MMC) has announced the completion of its acquisition of Innopay for an undisclosed fee.
"Oliver Wyman's acquisition opens up new opportunities for us to expand our reach and deliver impactful solutions to clients," said Innopay CEO Shikko Nijland. "We are excited to be part of a larger organization that shares our values for growth and innovation and are thrilled to officially join forces. Together, we will unlock new value for our clients and colleagues alike."
Innopay delivers strategy, scheme development, and execution in the domain of digital payments, open finance, digital identity and data sharing. Their services capture an end-to-end offering in the payments sector to support companies and organizations to identify and seize opportunities in a digital world.
Innopay has joined Oliver Wyman as a specialist consulting business within the group's European region. It continues to operate in the Netherlands and Germany, maintaining its presence in Amsterdam and Frankfurt. Terms of the transaction were not disclosed.
Commenting on the transaction, Dr. Stephen Whitehouse, Partner and Head of Payments for Europe at Oliver Wyman, said: "The completion of the acquisition of Innopay heralds a considerable enhancement of Oliver Wyman's payments capabilities. We look forward to combining our strengths and collaborating with Innopay, leveraging their expertise to deliver exceptional value and catalyze growth within the payments industry."
SOURCE: Oliver Wyman
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