11th Jan 2022 08:46
(Alliance News) - Kainos Group PLC announced on Tuesday it had wholly acquired Blackline Group Inc.
The Belfast-based software company did not disclose the terms of the acquisition.
Blackline is a speciality services firm that focuses on procurement. It was founded in 2009 in the US and previously worked as an advisory partner for Kainos' Workday Strategic Sourcing. The acquisition is Kainos' sixth in the Workday partner ecosystem.
Workday is a management cloud platform that covers areas such as finance, human resources, and planning for businesses.
Kainos said the acquisition will strengthen its capabilities in the Workday ecosystem and will enhance its Workday presence in North America and Europe by adding over 50 spend management and procurement consultants from Blackline who will support the expansion.
Shares in Kainos were up 2.2% at 1,664.04 pence on Tuesday morning in London.
By Heather Rydings; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Kainos Group