Regnology Enters into Exclusive Talks to Acquire Invoke
On completion, this deal would mark Regnology’s fifth acquisition in less than a year as part of its accelerated growth and value-generating strategy
With 160+ full-time employees, Invoke 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.
Rob Mackay, CEO of Regnology, comments: “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. In June 2022, Regnology announced a deal to acquire PwC UK’s Tax Information Reporting (TIR) software business.
“The acquisition of Vizor in 2021 was the founding step for the advent of Regnology. Combined with our organic growth, our M&A activity over the past 12 months continues to supercharge our business, significantly accelerating our international expansion and consolidating our RegTech and SupTech offering into a powerful integrated regulatory reporting platform,” said Bobby Rahman, Head of M&A for Regnology.
“We were impressed by the momentum of Invoke over the past two years under Raphael’s leadership. 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,” added Mackay.
Raphael de Talhouet, CEO of Invoke continued: “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 with Invoke’s works council, agreeing and executing any definitive agreement.
Regnology is a leading technology firm on a mission to bring safety and stability to the financial markets. With an exclusive focus on regulatory reporting and more than 34,000 financial institutions, 60 regulators, international organizations and tax authorities relying on our solutions, we’re uniquely positioned to bring greater data quality, efficiency and cost savings to all market participants. With over 850 employees in 15 countries and a unified data ingestion model powering our work, our clients can quickly implement and derive value from our solutions and easily keep pace with ongoing regulatory changes. Regnology was formed in 2021 when BearingPoint RegTech, a former business unit of BearingPoint Group, joined forces with Vizor Software, a global leader in regulatory and supervisory technology.
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Invoke is a French-based software vendor specializing in SaaS solutions dedicated to financial, tax and regulatory reporting. A leading player in the field of French tax management for large and mid-sized companies, Invoke has also established itself as a SaaS leader in RegTech and SupTech in Europe due to its innovative solutions for regulatory reporting and prudential supervision.
It’s cutting-edge expertise, particularly in XBRL and inline XBRL technologies, makes Invoke a preferred partner for national and supranational supervisory authorities, as well as for banks, insurers and company groups required to comply with national and European regulatory requirements, including CRD V, Solvency II and ESEF.
As an EDI partner of the French tax authority, (DGFiP), a founding member of XBRL France and a direct member of XBRL International, Invoke currently supports 1,800 customers in 34 countries.
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