Marsh McLennan’s Oliver Wyman to acquire INNOPAY
Oliver Wyman, a global management consulting firm and a business of Marsh McLennan (NYSE: MMC), announced today that it has reached an agreement to buy INNOPAY. INNOPAY will complement Oliver Wyman’s existing payments consulting capabilities. Terms of the transaction, which is expected to close before the end of the first quarter of 2024, were not disclosed.
INNOPAY will join Oliver Wyman as a specialist consulting business within the group’s European region. It will continue to operate in the Netherlands and Germany, maintaining its presence in Amsterdam and Frankfurt. Shikko Nijland, CEO, INNOPAY, will join as Senior Vice President and be part of Oliver Wyman’s payments leadership team, reporting to both Dr. Stephen Whitehouse, Partner and Head of Payments, Europe, Oliver Wyman, and Ted Rudholm-Alfvin, Partner, Oliver Wyman.
Commenting on the transaction, Dr. Stephen Whitehouse, Partner and Head of Payments, Europe, Oliver Wyman: “The European payments landscape is undergoing significant transformation, driven by technological advancements, changing consumer preferences, and regulatory developments. Bringing Oliver Wyman and INNOPAY together creates a unique offering, which will accelerate the impact of our people and work as we look to unlock value through deep industry knowledge and collaboration.”
Shikko Nijland, CEO, INNOPAY, added: “Oliver Wyman’s acquisition of INNOPAY is a testament to our commitment to growth and innovation. Its global network and expertise will reinforce our ability to provide market-leading and exciting new opportunities, helping clients navigate the evolving landscape of digital transactions and providing additional opportunities for our colleagues.”
Read more about the transaction in this interview with Shikko