Kainos Acquires Workday Partner IntuitiveTEK
UK-based digital services provider Kainos has acquired Intuitive Technologies (IntuitiveTEK), an Adaptive Insights and Workday partner from the United States. Financial terms of the deal were not disclosed.
This is M&A deal Number 133 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Also, this is the second Workday partner acquisition we’ve seen so far in 2020. The other involved Accenture buying Sierra-Cedar’s Workday consulting practice.
Workday is an increasingly popular SaaS platform for HR, finance and other types of applications. Workday acquired Adaptive Insights in 2018 for $1.55 billion.
Kainos Acquires Workday Partner IntuitiveTEK: Deal Background
Founded in 2010 and headquartered in Denver, Colorado, IntuitiveTEK has around 40 employees. The company was one of the first to exclusively sell Adaptive Insights solutions, according to the firm.
Kainos says the deal will make it one of the largest Adaptive Insights practices globally. The Adaptive Insights platform provides cloud-based business planning and financial modeling tools. Kainos is already a prominent Workday partner with more than 300 customers worldwide and operations in 15 countries, the company asserts.
Kainos has M&A experience in the Adaptive Insights market. The company previously acquired Formulate and Implexa at the end of 2019, extending its Adaptive Insights capabilities in the UK and broader European markets. The IntuitiveTEK deal will allow the firm to grow its presence in the North American market.
Kainos Acquires IntuitiveTEK Executive Reaction
Explaining the deal, Kainos CEO Brendan Mooney commented:
“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.”
Brian Storrs, founder and president of IntuitiveTEK, added:
“From the start, we saw the incredible benefits of the Adaptive Insights Business Planning Cloud and as Adaptive Insights has grown, so have we. I am incredibly proud of all we have achieved to date and am excited for the next stage in our journey. The coming together of IntuitiveTEK and Kainos is a powerful combination for our customers and I am looking forward to partnering with Brendan, Malachy and the team.”
Kainos Company Background
Headquartered in Belfast, Kainos employs 1,550 people across 12 offices in Europe and North America.
Since its founding in 1986, Kainos has gone on to provide services to customers in Europe, the Middle East, Africa, and North America.
Kainos has been a Workday implementation partner since 2011.
Workday, meanwhile, continues to work with a growing portfolio of global systems integrators, CEO Aneel Bhusri indicated during the company’s February 27, 2020 earnings call.
It’s safe to expect more details during the Workday Rising 2020 conference, which is scheduled for September in San Francisco, California.