SAP partners Codestone and Clarivos tie the knot

Clarivos will become part of the Codestone technology and cloud services business

Codestone Group has acquired Clarivos in its bid to create a SAP cloud powerhouse.

The SAP partner closed the acquisition on 3 May and will make Clarivos part of its technology and cloud services business.

Clarivos has a head count of more than 70 people. The firm claims it has delivered over 350 successful EPM and ERP projects across EMEA.

Codestone co-founder & CEO Jeremy Bucknell, said the partner expects the buy will generate £10m in incremental revenue, and £2m in incremental 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 in the market," he said.

"It is perfectly aligned with our customer-centric, cloud-first strategy and will drive greater focus on strategic execution and operational excellence to the Group's already significant value creation."

As well as being an SAP Gold partner, Clarivos' Platinum partnership with CCH Tagetik helps deliver EPM projects across Europe.

Kirit Patel, executive director - strategy and execution at Clarivos, said: "Codestone's multi-capability Microsoft credentials, cloud hosting expertise and comprehensive support provides much in demand services to our customers.

"Our mid-market and large enterprise customers will benefit from more comprehensive ERP delivery, cloud and managed services from a pedigree organisation that is widely recognised in this space."

The Clarivos leadership team remain within the expanded group and Kirit will now become director of Mid-Market and Large Enterprise and sit on the Codestone Operational Board.