Kainos Group (LON: KNOS), a leading UK-based provider of digital services and platforms, has announcd further investment into Adaptive Insights’ UK and European markets through the acquisitions of Formulate Limited and the Adaptive Insights arm of Implexa GmbH.
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 Group, 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.”