Invenio Business Solutions, a Reading-based provider of business technology and consulting services, has acquired a logistics consultancy headquartered in Bangalore.

Proverbium was founded by Amith Cheriyan and Reji Cheriyan, who will stay with the company, joining Invenio’s digital supply chain and logistics business unit.

Arun Bala, chief executive of Invenio, said: "We have identified digital supply chain solutions as our biggest growth vertical and have already made significant investments into this space over the last two years.

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"The acquisition of Proverbium brings further synergy to our business in the digital supply chain solutions domain and is perfectly aligned with our business strategy."

The deal comes after Invenio secured the backing of the BGF earlier this year. It was led by Manish Goyal, the company's chief investment officer.


Sourced from Insider Media Limited - written by Storm Rannard

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