Kainos Group acquires both Formulate (UK) and Implexa (Germany) to grow across Europe

Kainos, the Belfast-based software provider, has acquired two players, Formulate and Implexa, to further secure the UK and European markets for one of its umbrella companies, Workday. Workday is a suite of enterprise solutions, including a financial and business planning software called Adaptive Insights.

Both purchased entities were already partners with Adaptive Insights in their home markets — Formulate in the UK and Implexa in Germany — and will help Kainos sell and support customer success across Europe. Formulate, founded in Worcestshire in 2016, helps customers adopt Adaptive Insights through tailoring the software and providing consultation on top. Similarly, Implexa offers software and consulting services from its Hamburg office, which will expand on Kaino’s existing presence in Frankfurt. The terms of the deal were not disclosed, but commenting on the acquisition, Kainos CEO Brendan Mooney 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.”