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2 Mar 2020 07:00
2 March 2020
Kainos Group plc
("Kainos" or the "Company")
Kainos acquires IntuitiveTEK LLC
Kainos (LSE: KNOS), a leading UK-based provider of digital services and platforms, today announced the acquisition of Intuitive Technologies LLC ("IntuitiveTEK"), a trusted advisor in the areas of financial consolidation, budgeting, planning, forecasting, reporting and accounting solutions.
Founded in 2010 and headquartered in Denver, Colorado, IntuitiveTEK has a workforce of 38 and has completed more than 500 Adaptive Insights projects, with an aggregate of more than 150 years of dedicated Adaptive Insights consulting resources team experience.
Adaptive Insights, a Workday company, powers a new generation of business planning. Workday helps businesses better plan, execute and analyse across the enterprise in one system.
Following the purchases of Formulate and Implexa at the end of 2019, which extended Kainos' Adaptive Insights capabilities in the UK and European markets, the acquisition of IntuitiveTEK makes Kainos one of the largest Adaptive Insights practices globally. The addition of IntuitiveTEK will also enable Kainos to accelerate the growth of its North America practice.
The terms of the acquisition have not been disclosed.
Commenting on the acquisition Brendan Mooney, CEO, Kainos, said:
"I am delighted to welcome the IntuitiveTEK team to Kainos, and into our ever-expanding Workday practice. The team's expertise, excellent reputation, and passion for building strong customer relationships aligns with our business, and we look forward to having them on board. As a leading Workday partner, we see this acquisition as an important step to deepen our expertise in Adaptive Insights Business Planning Cloud in the United States, where we continue to see growing demand from clients in modernizing their planning and financial management processes."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. Prior to publication, certain information contained within this Announcement was deemed to constitute inside information for the purposes of Article 7 of MAR.
ENDS
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/Andrew Potts
FTI Consulting LLP +44 20 3727 1000
Matt Dixon / Leah Dudley / Kwaku Aning
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 one of 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 13 offices in Europe and North America.
Kainos is listed on the London Stock Exchange (LSE: KNOS). For further information, please visit www.kainos.com
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