Innofactor Acquires Invenco, a Finnish Company Specialized in Data and Analytics Solutions
Invenco is an expert organization specialized in corporate performance management, data warehousing and reporting, and its most important areas of expertise are data integration, data warehousing, Business Intelligence (BI) and analytical solutions. Invenco is a long-term Microsoft partner in data and analytics. The company has approximately 50 employees of which 35 are senior data professionals. The company has four offices in Finland in Vantaa, Oulu, Tampere and Kuopio.
Invenco Ltd’s net sales in the last fiscal year (July 1, 2020 – June 30, 2021) were approximately EUR 6.2 million. The operating margin (EBITDA) was approximately EUR 0.3 million, which was approximately 5 percent of the net sales. The net sales for the current fiscal year of July 1, 2021 – June 30, 2022 is estimated to be approximately EUR 6.3 million and operating margin approximately 6 percent. Innofactor’s objective going forward is to grow Invenco’s revenue and improve its profitability by means of synergy benefits.
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The aim of the transaction is to be Finland’s leading provider of data solutions in the Microsoft ecosystem
Together Innofactor and Invenco form one of Finland’s largest companies providing data solutions in the Microsoft ecosystem. We can provide our customers with even broader and better services in the area of data and analytics. Innofactor expands geographically in Finland to Oulu, which becomes the 8th office in Finland alongside with Espoo, Tampere, Turku, Kuopio, Jyväskylä, Lappeenranta and Kajaani.
Invenco’s main shareholder and CEO Sakari Pitkäsalo will hold a position of Senior Advisor at Innofactor’s Data & Analytics business unit, and other members of the leadership team will continue in their current roles in the same unit and in Innofactor’s sales and administration. Invenco Ltd’s name will be changed to Innofactor Invenco Ltd, and the employees will continue to be employed by it. The roles and tasks of the professionals will remain unchanged.
“In autumn 2021, we updated our strategy and our Finnish organization to support growth more strongly. We established a new Data & Analytics business unit in Finland, for which we set strong growth targets. The acquisition supports the set targets very well. Invenco has very experienced top professionals, great customers and good partners. Also, our way of working and culture seem to go well together, which is very important to me. I would like to warmly welcome the new colleagues, customers and partners to Innofactor” says Sami Ensio, Innofactor’s founder and CEO.
“Thanks to Innofactor’s broad shoulders and wide solution portfolio, we’re able to offer our customers even more comprehensive services and provide excellent development opportunities to our highly qualified experts. Innofactor’s Nordic reach and growth strategy create a solid basis for us to reach a new phase. We believe that Invenco’s partner strategy complements Innofactor’s chosen strategy very well and for us it’s a great occasion to join Innofactor’s top team on their growth journey” says Sakari Pitkäsalo, Invenco’s main shareholder and CEO.
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