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(Alliance News) - Kainos Group PLC said on Monday that it had acquired the Georgia, US-based RapidIT-Cloudbera Inc, the creator of Genie, a workday-focussed automated testing product, and that it would integrate it into its Workday division.
Kainos, a Belfast, Northern Ireland-based IT provider with expertise across digital services, workday services, and workday products, said it would combine Genie with its own automated testing product, Smart Test, to provide customers with the capacity to achieve greater compliance and quality assurance.
Chief Executive Officer Brendan Mooney said: "The skills, expertise and creativity of our expanded team will allow us to accelerate our product development, increasing the functionality of our existing products and allowing us to quickly bring new products to market."
RapidIT-Cloudbera is headquartered in Atlanta, US, employing 101 people in its US and Indian operations.
Kainos' Smart Test is a cloud-based automated testing platform built exclusively for Workday, the American-focused financial management, human capital management, and student information system software.
Kainos said that the integration of the products is due to be completed during its current financial year. Kainos did not disclose the terms of the acquisition.
The company said its annual recurring revenue for its Smart products suite was GBP49 million on March 31, but following the incorporation of Rapid-ITCloudbera, it forecast the suite to achieve GBP100 million in annual recurring revenue by 2026.
CEO of RapidIT-Cloudbera Gopo Velagundula: "The automated testing market for Workday is growing rapidly and by combining our two products we are creating the undisputed global leader for automated testing.
"The combination also represents fantastic news for our customers, increasing the scale and value of what we can do to support their compliance efforts."
Shares in Kainos were down 0.1% at 1,233.00 pence in London on Monday morning.
By Will Neill, Alliance News reporter
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