Expansive Oracle partner Inoapps has acquired competitor Crocus Consulting for an undisclosed sum following a £10m growth capital injection from Business Growth Fund (BGF).
Leicester-based PeopleSoft specialist Crocus provides comprehensive business and industry solutions focused on human capital management, and brings clients including hardware retailer Wilkinson and healthcare provider BUPA.
Its 45 employees will all transfer across to the new owners, including MD Chris Smith, who will now become Inoapps VP of Applications Division.
Inoapps, which has UK bases in Aberdeen, Edinburgh and Derby, and recently opened new offices in Bahrain and Malaysia, said the addition of human resource and payroll services to its portfolio would help build a more significant practice around Oracle BI – the firm has designs on making £50m turnover by 2015 – and heralds imminent expansion into the US, according to chief exec Andy Bird.
“The acquisition of Crocus brings valuable skills and experience to Inoapps. The Crocus team has built a solid business through delivering continuous improvement and value to its clients,” said Bird. “They have a strong industry focus on financial services as well as expert knowledge of the PeopleSoft applications.”
Crocus’ Smith added: “There are exciting synergies between Inoapps and Crocus. Acting as one organisation we will be able to combine our experience and expertise in order to bring even more value to our customers.
“As a group, the former Crocus management team is committed to the deal and we will all be working with our new colleagues in order to continue to deliver the best results and optimum value to our clients.”