2nd Mar 2020 08:25
(Alliance News) - London-headquartered Kainos Group PLC on Monday said it has acquired Colorado-based Intuitive Technologies LLC on undisclosed terms.
Shares in Kainos were up 4.3% at 778.00 pence in London in early morning trading.
Kainos described Intuitive Technologies or IntuitiveTEK, an Adaptive Insights Partner with 38 people in its workforce, as "a trusted advisor in the areas of financial consolidation, budgeting, planning, forecasting, reporting and accounting solutions".
According to digital services and digital platforms provider Kainos, Intuitive Technologies has completed over 500 Adaptive Insights projects. Adaptive Insights is a Workday Inc company and its software is used for business planning.
Having bought Formulate and Implexa in late 2019, extending its "Adaptive Insights capabilities in the UK and European markets", Kainos said it is now "one of the largest Adaptive Insights practices globally".
Further, the Intuitive Technologies buy will allow Kainos to grow its North America practise more quickly. Kainos said the deal's terms "have not been disclosed".
Kainos Chief Executive Brendan Mooney 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 US, where we continue to see growing demand from clients in modernizing their planning and financial management processes."
By Anna Farley; [email protected]
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