Belfast IT group Kainos completes acquisition of US software firm

The acquisition of Atlanta-based RapidIT-Cloudbera takes the Kainos workforce to more than 3,000 people around the world.
The acquisition of Atlanta-based RapidIT-Cloudbera takes the Kainos workforce to more than 3,000 people around the world.

BELFAST IT group Kainos has completed its latest acquisition in the United States.

The software company has bought Atlanta-based RapidIT-Cloudbera.

The company, which operates within the Workday market, employs 101 people between the US and India.

Workday is a suite of office management software, and is one of the fastest growing areas of the Kainos business.

The London-listed tech group recently announced its Workday Services business grew by 49 per cent in the latest financial year, while its Workday Products division grew by 40 per cent.

Established in 2017, RapidIT-Cloudbera is the creator of Genie, a Workday-focused automated testing product, which has the ability to rapidly auto-generate test cases, allowing customers to quickly launch their automated testing efforts.

Genie is used by over 100 organisations to streamline their testing activity.

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Kainos said it will combine Genie with its own automated testing product, Smart Test.

The Belfast company said it expects its Smart products suite to generate £100 million in annual revenue by 2026.

Kainos said the RapidIT-Cloudbera’s staff will become part of its Workday Products division, taking the Kainos workforce past the 3,000 mark.

The software company recently reported an adjusted pre-tax of £67.6m for the year to March 31 2023, on the back of revenues of £374.8m.

Kainos has also announced that its long-serving chief executive, Brendan Mooney, will step down in September after 22 years in the role.

Commenting on the latest acquisition, Mr Mooney said: "The skills, expertise and creativity of our expanded team will allow us to accelerate our product development, increasing the functionality of our existing products and allowing us to quickly bring new products to market - it is a winning combination."

Gopo Velagundula, the chief executive of RapidIT-Cloudbera added "The automated testing market for Workday is growing rapidly and by combining our two products we are creating the undisputed global leader for automated testing.

“The combination also represents fantastic news for our customers, increasing the scale and value of what we can do to support their compliance efforts."

Malachy Smith, director of Kainos’ Workday Products division said: "When we launched Smart Test in 2013 we created the market for the automated testing of Workday and it has been incredibly exciting to be at the forefront of this market for the past ten years.

“The combination of Smart Test and Genie further enhances our position in this high growth market and allows us to look beyond our £100m ARR target."