Invenio Business Solutions, a global provider of business-focused technology solutions and consulting services, has announced the acquisition of Proverbium, a Bangalore-based logistics consultancy.
Proverbium is a specialist in the Enterprise Warehouse Management space, with a focus on SAP-EWM. Headquartered in Bengaluru, India, it was founded by Amith Cheriyan and Reji Cheriyan, who will stay with the business, joining Invenio’s Digital Supply Chain and Logistics business unit.
This is a strategic acquisition for Invenio, part of the company’s goal to expand on their Digital Supply Chain Solutions portfolio, both for new and existing customers. This follows an £11.6 million investment earlier this year from BGF, the UK and Ireland’s most active investor, to support business growth by expanding its offering and growing through acquisition.
Arun Bala, CEO of Reading-based Invenio, commented: “We have identified Digital Supply Chain Solutions as our biggest growth vertical and have already made significant investments into this space over the last two years. The acquisition of Proverbium brings further synergy to our business in the Digital Supply Chain Solutions domain and is perfectly aligned with our business strategy.”
Amith Cheriyan commented: “We’re delighted to be joining Invenio at such an exciting time. The business has a strong vision to become a world leader in supply chain solutions and together we can create an offering with even more experience and innovation.”
The acquisition was led by Manish Goyal, chief investment officer at Invenio, who said: “The acquisition of Proverbium is a great cultural and value-system fit and will help us focus on our Digital Supply Chain Solutions business unit.”