Codestone Group acquired Clarivos in an attempt to build an SAP cloud power plant.
The SAP partner completed the acquisition on May 3 and will make Clarivos part of its technology and cloud services business.
Clarivos has more than 70 members. The company claims to have delivered over 350 successful EPM and ERP projects to EMEA.
Codestone co-founder and CEO Jeremy Bucknell said the partner expects the purchase to generate £ 10 million in additional revenue and £ 2 million in additional adjusted EBITDA over the next 12 months.
“This agreement complements our award-winning SAP ERP and Microsoft Cloud offerings and creates one of the most differentiated SAP services on the market,” he said.
“It is in line with our customer-centric cloud strategy and will focus more on strategic performance and operational achievements towards the Group’s already significant value creation.”
In addition to being a gold partner of SAP, Clarivos’ platinum partnership with CCH Tagetik helps implement EPM projects across Europe.
Kirit Patel, Executive Director, Strategy and Implementation at Clarivos, said: “Microsoft Codestone’s versatile credentials, cloud hosting experience and comprehensive support provide much-needed services to our customers.
“Our mid-market customers and large enterprises will benefit from a more comprehensive supply of ERP, cloud and managed services by a pedigree organization that is widely recognized in this area.”
Clarivos’ management team remains in the expanded group, and Kirit will now become director of mid-market and large enterprises and will be on Codestone’s operations board.