Kainos Group plc Kainos Acquires Formulate and Implexa
November 11 2019 - 1:01AM
RNS Non-Regulatory
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Kainos Group plc
11 November 2019
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
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END
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