After signing a conditional acquisition agreement in July 2022, Wavestone announces the acquisition of PEN Partnership, a UK-based consulting firm.
Founded in 2012, PEN Partnership has established itself as a trusted partner for its clients operating across the Financial Services and Life Sciences sectors. PEN Partnership serves some of the most reputable organizations within these industries across four core areas of expertise: Customer Experience & Digital, Operations & Automation, Data & Technology and Change Delivery & Capability.
The project fits perfectly with Wavestone’s strategic plan ‘Impact’: to accelerate the firm’s external growth in its target geographies of the US and the UK.
The acquisition is a great opportunity to enrich Wavestone’s overall value proposition for its clients across geographical markets. The addition of PEN Partnership’s expertise in Financial Services and Life Sciences to Wavestone’s technological capabilities will offer a first-class proposition to help tackle clients’ transformation challenges across the two industries.
Chris Gibson, PEN Partnership’s CEO, comments: “Wavestone and PEN Partnership together make a powerful combination, and this is really great news for our clients and staff. The two companies provide complementary services and share very similar corporate culture and values. Wavestone has an ambitious growth plan, and I am very excited for the PEN team to play a key role in building a world-class consultancy.”
Reza Maghsoudnia, Strategic Development Director of Wavestone, says “This merger enhances Wavestone’s ability to deliver global transformation programs. With PEN Partnership, we can accelerate our growth and deepen our value proposition in Financial Services and Life Sciences globally. It’s clear from our discussions with PEN Partnership that there are synergies not only in the services provided, but the company culture. There is strong alignment on topics such as CSR, Diversity & Inclusion, as well as Great Place to Work®, and this is a key success factor for our project.”
In a world where knowing how to drive transformation is the key to success, Wavestone’s mission is to inform and guide large companies and organizations in their most critical transformations, with the ambition of a positive outcome for all stakeholders. It’s an ambition anchored in the firm’s DNA and embodied in the signature “The Positive Way.”