FinQuery, a subledger platform used by more than 8,700 organizations worldwide to manage financial obligations and capital assets, purchased Innervision from the software provider IRIS Software Group. The transaction establishes a dedicated regional operation named FinQuery UK.
The acquisition targets the integration of localized accounting expertise, specifically regarding the FRS 102 and IFRS 16 financial reporting standards, into the buyer's broader enterprise software portfolio.
The corporate combination merges Innervision's regional compliance functions with the acquiring company's primary system. FinQuery provides software to automate lease accounting, fixed asset tracking, debt management and prepaid expenses. The underlying architecture incorporates a proprietary technology called Accountable AI to process financial agreements and maintain audit readiness across various enterprise resource planning environments. Existing Innervision customers will maintain their current services while gaining access to this extended financial technology over time.
Financial terms of the transaction were not disclosed.
“The UK is an important growth market for FinQuery, and Innervision gives us something we value enormously: an established customer base, deep local expertise, and a team that understands the accounting needs of UK organisations,” said Joe Schab, CEO of FinQuery. “By bringing Innervision into FinQuery, we can combine that expertise with the scale, product investment, and broader capabilities of the FinQuery platform. Our goal is straightforward: give UK accounting and finance teams a better way to manage complex accounting today and a platform that can grow with them well beyond lease accounting.”
