Kainos Acquires Formulate and Bolsters its Presence in Germany to Support European Growth
London, UK, 11 Nov. 2019 – Kainos, a leading UK-based provider of digital services and platforms, today announced it has completed acquisitions of Formulate and the business of Implexa focused on Workday Adaptive Planning, formerly known as Adaptive Insights. These acquisitions further support Kainos’ investments in the UK and European markets and its partnership with Workday Adaptive Planning.
Formulate is a UK and European partner of Workday Adaptive Planning. Founded in 2016 and headquartered in Worcestershire in the UK, Formulate is one of three certified, UK-based Workday Adaptive Planning Solution Providers. Formulate supports Workday Adaptive Planning customers in deploying the company’s software, building forecasting solutions within the software, and improving and refining forecasting solutions already in operation. Formulate combines both software and consulting capabilities and provides its services to more than 100 customers across the UK and Europe. Formulate will remain a separate business within the Workday practice at Kainos.
Implexa is the only certified, German-based Workday Adaptive Planning Solution Provider, and adds Hamburg-based consulting capabilities to Kainos’ existing Frankfurt presence. The Implexa team will expand Kainos’ geographical spread in northern Germany.
Kainos is a leading Workday partner, with more than 300 customers worldwide and operations in 15 countries. Both acquisitions reflect Kainos’ ambition to help customers drive business planning and digital transformation, leveraging Workday’s leading suite of applications for finance and HR.
Commenting on the acquisition, Brendan Mooney, CEO, Kainos, 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.”
Stephen Hambling, CEO, Formulate, added:
“The combination of our three teams will be incredibly powerful. Kainos, Formulate, and Implexa share much in common: a strong belief in people and team, a shared belief in the potential of the market we are targeting, and complementary offerings that are best-in class. I look forward to this next step in our journey, and to partnering with the teams.”
Timo Wienefoet, Managing Director, Implexa, added:
“Through this acquisition, we’ll be able to provide our customers with a leading pan-European consulting team, specializing in Workday Adaptive Planning. The combination of our deep product and business experience, strong customer relationships, and unique methodology means that we will be able to provide outstanding services to our clients across Europe.”