Ryan acquires Qvalia’s consulting unit for expansion in finance process automation
6 December 2021
Stockholm-based finance process automation company Qvalia recently partnered with Ryan, a global leader in tax services, to expand its joint offering. As part of the partnership, Ryan acquired Qvalia's VAT recovery audit consulting unit.
"Ryan has a global reach and expertise in business tax; we look forward to working together in helping our joint customers. This partnership enables Qvalia to focus on growing our SaaS platform, and it supports our mission to provide finance teams with the tools they need to automate daily tasks and gain complete control of their financial data, from invoicing and information on suppliers to accounting and spend analytics," said Henri Taipale, Founder and CEO of Qvalia.
The acquisition of the consulting unit includes 32 experts and Qvalia's subsidiaries in Denmark, Finland, Norway, and Sweden. Qvalia's technology unit remains in Stockholm-based parent company Qvalia Group AB.
"This is a strategic acquisition and partnership for Ryan," said Ryan Chairman and CEO G. Brint Ryan. "Qvalia is the Nordic market leader in VAT recovery audit consulting services and has developed a novel cloud platform to automate invoicing and accounting with significant global potential. We're proud to welcome Qvalia's consulting team to Ryan. Our new colleagues bring unique expertise that benefits our clients with business operations in the Nordics and ensures we will continue to be the foremost European tax experts."
The new consulting unit will become Ryan's largest European unit and enable expanded expertise in global business tax for private and public sectors. Qvalia's platform will be offered to Ryan's customers from 2022.