Interview with Shikko Nijland, CEO and Managing Partner at INNOPAY
Oliver Wyman and INNOPAY are an excellent fit
“This strategic move is not just about combining companies, it’s about creating synergies that amplify our impact on the industry”
INNOPAY has signed an agreement to be acquired by a leading global management consulting firm, Oliver Wyman. The deal is expected to close in the first quarter. “We are delighted to have reached this agreement after an extensive process of intense discussions and careful consideration,” says Shikko Nijland, who will continue to lead INNOPAY after the acquisition. “Together, we concluded that our two companies are an excellent fit, thanks to Oliver Wyman’s global reach and data-led work in payments, in combination with INNOPAY’s unique understanding of digital transactions. We also believe our company cultures are a great fit. With Oliver Wyman’s backing, we will be able to further accelerate our growth and cement our reputation in the realm of digital payments, open finance, digital identity, and data sharing.”
What were the driving factors behind the decision to sell the company?
“Initially we were looking for strategic partnerships to stay ahead of the curve and be able to leverage our unique consulting propositions within a highly relevant international network. We didn’t intend to sell the company. However, in our first meeting with Oliver Wyman, there was such a natural connection that we both wanted to explore the potential mutual benefits of the ‘sell’ option.
After careful consideration it became clear that joining forces with Oliver Wyman was not just a business transaction, but also a forward-thinking move that will allow us to unlock new potential for our unique consulting propositions – and especially internationally. Ultimately, this decision was driven by our commitment to delivering excellence and pioneering innovation to ensure a stronger and more resilient future for our clients and our people. Together, we will be poised to tackle the industry’s current technology, regulatory and business challenges, and also to explore new frontiers.”
How do you expect the acquisition to affect relationships with INNOPAY’s existing clients in the short term?
“We will continue to nurture trusted relationships with our clients and our day-to-day support for them will not waiver. We will only have more to offer them in the future and we look forward to our ongoing digital transaction adventure together.
In the longer term, how do you see INNOPAY evolving through the combination with Oliver Wyman?
“We anticipate driving our unique propositions and way of innovation to new heights, expanding our service offerings, and venturing into untapped markets. We’ll be empowered to take on larger and more ambitious initiatives, serving our clients in their most transformative moments. We anticipate becoming the international go-to partner, particularly in the field of large-scale digital transformations and collaborative scheme development in payments, digital identity, open finance, and data sharing.”
How will the INNOPAY leadership team change as a result of the acquisition?
“'Our full leadership team remains onboard, joined by two Oliver Wyman leaders to drive the way forward together. Jointly with Oliver Wyman’s broader team of European payments partners and consultants, we will continue to serve our clients’ most important needs.
How do you yourself feel about the acquisition?
“The prospect of combining our strengths, resources and expertise fills me with a blend of excitement and optimism, and I am thrilled about the opportunities that this strategic move brings for INNOPAY. Naturally, with any change like this there can be an element of challenge or surprise. However, I am personally committed to ensuring a smooth transition for our teams and clients, with the support and backing of Oliver Wyman. This marks a new chapter for INNOPAY, and I am enthusiastic about the collective potential we are unlocking. It gives me even more confidence in our ability to continue to innovate and lead in the digital transaction industry.”