Regulatory Reporting Solutions Provider Regnology Enters Into Talks To Acquire Invoke
Summary
On completion of the agreement, the deal would “mark the fifth acquisition in less than a year for Regnology.” With 160+ full-time employees, Invoke reportedly “serves over 1,800 regulated entities and supervisory authorities throughout Europe with its XBRL-based banking, insurance, and tax reporting solutions.” Invoke’s corporate tax solution will “complement Regnology’s financial tax reporting solution and open a new growth area for the company.” “The round of recent deals we have undertaken, culminating with today’s announcement, sets Regnology on an accelerated path for growth internationally. Invoke’s advanced solutions would complement our technology stack while its team’s deep knowledge of the French and Luxembourg markets, in particular, would strengthen our ability to deliver superior RegTech and tax reporting solutions on a wider scale.” The contemplated acquisition would “follow on the heels of Regnology’s acquisition of UK-based statistical SDMX reporting specialist Metadata Technology earlier this month.” This strategic deal was “preceded by the purchase of KPMG’s K-Helix reporting software business unit and the acquisition of Brussels-based reporting specialist b-fine in November 2022.” Bobby Rahman, Head of M&A for Regnology, said: “The acquisition of Vizor in 2021 was the founding step for the advent of Regnology. The proposed acquisition of Invoke would bring Regnology closer than ever to realizing our vision of providing the global community of regulators and regulated financial institutions with best-in-class, end-to-end solutions that can solve regulatory complexity with better data quality and unlock unprecedented efficiencies.” “This proposed deal could come as a natural leap forward for Invoke. Regnology shares the same entrepreneurial vision and innovation focus ISAI Expansion and Sagard NewGen had when they acquired Invoke in 2021. Our regulatory and tax expertise, local knowledge, and advanced solutions would be a natural fit for Regnology, and we believe a combination would offer amazing growth opportunities.” The contemplated acquisition is “subject to further due diligence and conditions including information and consultation of Invoke’s works council, agreeing and executing any definitive agreement.”
Funding
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