Ascend Partners has acquired InnoFin Solutions, expanding its Office of the CFO digital transformation capabilities and adding specialized expertise in Oracle Enterprise Performance Management implementations.
Ascend is a OneStream Diamond Partner focused on financial and data transformation, while InnoFin specializes in implementing Oracle EPM solutions, particularly for U.S. state, local and education organizations.
The acquisition brings together complementary practices across commercial enterprises and the public sector.
Ascend’s existing business is centered largely on commercial OneStream customers and has an established Canadian presence along with a growing U.S. footprint serving industries including real estate, manufacturing, mining and higher education.
InnoFin has built its business around Oracle EPM implementations for K-12 school systems, state governments, counties, cities and higher-education institutions.
The company’s founder, Kim Jenkins, also played a direct role in launching Oracle’s Hyperion Planning Public Sector Planning and Budgeting product.
Ascend said the combination creates a broader platform for organizations seeking to modernize budgeting, planning, financial reporting and related Office of the CFO workflows.
Enterprise Performance Management software has become increasingly important as finance organizations manage more complex planning environments while also evaluating opportunities to incorporate artificial intelligence into financial processes.
Platforms such as OneStream and Oracle EPM are helping organizations move away from legacy systems and manual workflows, increasing demand for implementation partners with specialized platform and industry expertise.
The acquisition gives InnoFin access to Ascend’s broader resources, services and global reach, while Ascend gains InnoFin’s experience serving government and education organizations.
The companies expect the combination to support both public- and private-sector organizations as they modernize financial planning, budgeting, reporting and data-management processes.
The deal also expands Ascend’s capabilities across two major EPM ecosystems, combining its OneStream expertise with InnoFin’s Oracle-focused practice.
Support: McGuireWoods served as legal counsel in connection with the transaction.
KEY QUOTES:
“InnoFin helps organizations across the public sector access, and implement, the same quality of financial technology as the largest global enterprises. Joining forces with Ascend helps us bring more depth of capability and greater capacity to the public institutions we serve, while also augmenting Ascend’s approach with our experience in financial transformation for the government and education communities.”
Kim Jenkins, Founder of InnoFin Solutions
“The complexity facing CFOs and finance leaders is only growing, and the platforms they rely on are evolving just as fast. What InnoFin has built in the Oracle ecosystem is a model for how to do this right: deep platform expertise, long-term client relationships, and a track record that speaks for itself. Together, we’re able to be stronger partners for every client we serve today, while also laying the foundation for new growth as the industry continues to change.”
Peter Popalis, Co-Founder of Ascend Partners
“InnoFin has a well-deserved reputation as the go-to Oracle EPM partner, with a particularly impressive track record in the U.S. public sector. At a time when the need for EPM implementation support is only growing, we’re excited to bring their expertise to bear on helping more companies and government entities transform their approach to financial management.”
Colin Sawford, Co-Founder of Ascend Partners
