Codestone Group has acquired Clarivos in a bid to create an SAP cloud powerhouse.
The SAP partner make Clarivos part of its technology and cloud services business.
Clarivos has a headcount of more than 70 and claims 350 successful EPM and ERP projects across EMEA.
Codestone co-founder & CEO Jeremy Bucknell said the partner expects the buy will generate £10 million in incremental revenue, and £2 million in incremental adjusted EBITDA, over the next year.
Bucknell said: “This agreement complements our award-winning SAP ERP and Microsoft Cloud offerings and creates one of the most differentiated SAP services in the market. It is perfectly aligned with our customer-centric, cloud-first strategy and will drive greater focus on strategic execution and operational excellence to the Group’s already significant value creation.”
As well as being an SAP Gold partner, Clarivos’ Platinum partnership with CCH Tagetik helps deliver EPM projects across Europe.
The Clarivos leadership team will remain within the new group and Kirit will become director of Mid-Market and Large Enterprise and have a Board seat.
