Wavestone finalizes the acquisition of the British, PEN Partnership

Posted 04 August, 2022

After signing a conditional memorandum in July 2022, Wavestone announced the acquisition of PEN Partnership, a UK-based consultancy. Over the past 10 years, PEN Partnership has grown steadily to reach a turnover of 19.6 million pounds (23.4 million euros) for the financial year ending March 2022, and a margin EBITDA adjusted by around 15%.

The acquisition price amounts to 22.5 million pounds (66.8 million euros) in enterprise value, an amount to which may be added an additional price of up to 7.5 million pounds (8.9 million euros), conditional on the performance of PEN Partnership over the next 18 months.

This acquisition is entirely financed in cash,

Operating in the financial services and pharmaceutical industry sectors, PEN Partnership supports its clients' transformation projects through four main specialties: Customer experience & digital, Operations & automation, Data & Technology, and Change management.

PEN Partnership will be integrated into Wavestone's consolidated financial statements from August 1, 2022.

Previous story

04 August, 2022 10:05

← Yesterday on Wall Street

The New York Stock Exchange concluded sharply higher on Wednesday, driven by encouraging corporate results, after the decline the day before when tensions with China had weighed.

Yesterday on Wall Street

Next story

04 August, 2022 08:47

Binance Co-Founder Yi Hee to Lead Crypto Exchange Venture Capital →

New CEO of Binance Labs to Oversee Strategy and Operations of Blockchain Incubator Reached 2.1K% Profit Rate.

Binance Co-Founder Yi Hee to Lead Crypto Exchange Venture Capital
Write a comment
Prove you’re not a bot + 14 = 19