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OSLO, Norway — Pearl Group announces the acquisition of Nasarius, a specialist consultancy in cash and treasury solutions. Founded in 2006 and headquartered in Copenhagen, Nasarius brings nearly two decades of expertise helping large Nordic and European corporations optimize their treasury operations and financial value chain.
This strategic acquisition integrates Nasarius´ deep domain knowledge with Pearl's strong existing banking competencies, joining both parties’ SAP expertise.
Completing the Financial Value Chain
The acquisition of Nasarius complements Pearl Group's existing portfolio and adds a critical layer of treasury-related solutions. This follows the 2024 acquisition of Applicon, which brought extensive expertise in core banking, and the 2025 acquisition of Factors, which strengthened Pearl's platform to support ongoing cloud and AI strategy based on SAP's new technology.
This combination allows Pearl Group to offer an end-to-end suite of services for large enterprises and financial institutions, including:
- Treasury Strategy — Helping organizations navigate economic changes, technology shifts, and evolving treasury’s position in the organization
- Treasury Operations — Optimizing day-to-day treasury and risk management processes in increasingly digitalized environments
- Treasury Reporting — Delivering flexible, tailored reporting solutions to support business decisions in a rapidly changing and increasingly uncertain environment
- Cash Deployment — Addressing the growing importance of effective cash utilization and accelerating cash cycles
- Internal Bank and Payment Factory— Enabling substantial financial savings through optimized internal and external payment processes, intercompany positions, and streamlined corporate cash and liquidity management
This combination allows Pearl Group to offer an end-to-end suite of services for large enterprises and financial institutions.
A Unified "Office of the CFO" Suite
With this acquisition, Pearl Group can now deliver complete visibility throughout the financial value chain This new joined Pearl offering and expertise creates a unified "Office of the CFO" solution, enabling Nordic enterprises to streamline financial reporting, compliance, and cash visibility through a single partner.
Strategic Value for CFOs and Employees
For CFOs, this acquisition creates a single- partner capable of optimizing liquidity, financial risk, and operational efficiency. For employees, the merger brings together over 500 specialists across Norway, Sweden, Finland, Denmark, Iceland, Poland, Latvia, Singapore, and Hungary — offering new opportunities to collaborate on high-impact projects at the intersection of treasury, banking, and technology.
"By adding Nasarius´ treasury expertise to our portfolio, we provide CFOs with a single partner for their most complex financial operations," said Geir Thoresen, Chairman of Pearl Group. "Nasarius has built an impressive reputation over nearly 20 years, working with some of the largest corporations in the Nordic and European region. This merger strengthens our core competencies and offers our team incredible opportunities to work at the forefront of financial innovation."
About Pearl Group
Pearl Group is a leading SAP partner in the Nordics, with 500+ consultants, specialists, developers and project managers. We specialize in SAP business systems, proprietary software and related technologies, offering deep expertise in these areas. Guided by our slogan "Your Business. Next Level.", Pearl emphasizes our role as a business partner, helping companies succeed in operations and information technology.
Pearl Group has demonstrated solid growth in recent years, increasing revenue from NOK 414 million in 2021 to NOK 1.2 billion in 2025.
About Nasarius
Nasarius is a specialist consultancy in Treasury and Cash Management. The team brings treasury and cash management expertise combining business and technology understanding within this field. We believe our specific, expert focus benefits our customers, helping us to deliver world-class solutions in the areas we know best. Our strength is local knowledge combined with global expertise, bringing innovation and creativity with constant attention to customer-focused results.
