Regnology, a leading software provider with a focus on regulatory reporting solutions, announces today it expects to sign a definitive agreement to acquire Invoke, a French-based provider of financial, regulatory, and tax reporting solutions for supervisory authorities, and reporting entities.
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 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.