Lucanet, a Germany-based global provider of end-to-end CFO software solutions, has acquired London firm Causal.
Causal is a key innovator in the financial planning and analysis market and will be integrated with Lucanet’s CFO solution, adding to the existing purpose-built solutions for financial consolidation, ESG reporting, disclosure management, tax compliance and cash management.
Acquiring Causal also brings on board an experienced team, enabling Lucanet to complement its know-how across the various CFO functions.
“I am very proud to welcome the Causal team as the newest addition to the Lucanet Group,” said Elias Apel, CEO of the Lucanet Group. “With Causal, we are extending our solution offering into the highly relevant and strategic category of operational planning.
“This addition means that our existing users as well as future customers will benefit from a unique, extended planning solution that shares the same product DNA as Lucanet’s existing value proposition: easy and intuitive user experience, a quick-to-implement cloud solution and cutting-edge, out-of-the box functionalities – supported by natural language modelling and AI automation.
“The acquisition of Causal concludes a year-long strategic search for the right partner. We found that partner in Taimur, Lukas and their team, who impressed us with their revolutionary and modern approach to operational planning but also their market traction across different customer sizes and their presence in the UK and US, two highly strategic geographies for Lucanet.”
Taimur Abdaal, CEO at Causal (pictured), added: “Causal was on a great trajectory as a standalone product, but after spending time with the Lucanet team, we saw the tremendous growth potential of joining forces.
“We’re excited to join Lucanet’s fantastic product suite and business, which will accelerate our go-to-market journey and let us bring Causal to thousands more customers over the coming years.”