Kainos Group plc Kainos acquires IntuitiveTEK LLC (5897E)
March 02 2020 - 2:00AM
UK Regulatory
TIDMKNOS
RNS Number : 5897E
Kainos Group plc
02 March 2020
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ACQUPUCPWUPUGMG
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