Last checked at 11 Nov 2019 07:01
RNS REACH
11 November 2019
Kainos Group plc
("Kainos" or the "Company")
Kainos Acquires Formulate and Implexa
Kainos (LSE: KNOS), a leading UK-based provider of digital services and platforms, is pleased to announce today further investment into Adaptive Insights' UK and European markets through the acquisitions of Formulate (Adaptive) Limited ("Formulate"), and the Adaptive Insights arm of Implexa GmbH ("Implexa").
Formulate is a leading UK and European partner to Adaptive Insights: a financial and business planning software business which is part of Workday, Inc. Established in 2016 and headquartered in Worcestershire in the UK, Formulate is one of the leading European partners to Adaptive Insights. Formulate supports customers in implementing Adaptive Insight's software; building and refining forecasting solutions. Formulate's team of 16 combines both software and consulting capabilities, and provides its services to more than 100 customers across the UK and Europe.
Implexa is the only accredited Adaptive Insights partner in Germany, and adds Hamburg-based software and consulting capabilities to Kainos' existing Frankfurt presence and capabilities.
Both acquisitions help Kainos to build and expand on its Workday offering, and to grow its presence in key markets. By acquiring both businesses, Kainos strengthens its capabilities to sell, deliver and support Adaptive Insights financial planning customer success across the UK and wider Europe.
The terms of the investments have not been disclosed.
Commenting on the acquisition Brendan Mooney, CEO, Kainos, said:
"I am delighted to welcome the Formulate and Implexa teams to Kainos. The quality and unique expertise of the teams, paired with their complementary values, were integral in our decision to make these acquisitions.
We continue to see growing demand from organisations across the UK and Europe in modernising employee experience and financial management systems. By partnering with Workday, and as it continues to expand its products, we'll be able to enhance our value to customers."
For further information, please contact:
Kainos Group plc via FTI Consulting LLP
Brendan Mooney, Chief Executive Officer
Richard McCann, Chief Financial Officer
Investec Bank plc +44 20 7597 5970
Patrick Robb / Sebastian Lawrence
Canaccord Genuity +44 20 7523 4606
Simon Bridges
FTI Consulting LLP +44 20 3727 1000
Matt Dixon / Kwaku Aning / Leah Dudley
About Kainos
Kainos Group plc is a UK-headquartered provider of Digital Services and Digital Platforms.
The Group's Digital Services include full lifecycle development and support of customised Digital Services for government and commercial customers. Kainos is also the leading European partner for Workday, Inc. ('Workday'), responsible for implementing Workday's innovative Software-as-a-Service (SaaS) platform for enterprise and, now, government customers.
The Group's Digital Platforms comprise specialised digital platforms in the mobile healthcare and automated testing arenas. Smart is an automated testing platform for Workday customers; Evolve Electronic Medical Records ('EMR') is the market-leading product for the digitisation of patient notes in the Acute sector of the NHS.
Kainos has over 1,550 people across 12 offices in Europe and North America.
Kainos is listed on the London Stock Exchange (LSE: KNOS). For further information, please visit www.kainos.com
ENDS