Kainos Group plc (KNOS.L), an IT provider, announced Monday the acquisition of Atlanta, U.S. -based RapidIT-Cloudbera, Inc. The terms of the acquisition have not been disclosed.
RapidIT-Cloudbera is the creator of Genie, a Workday-focused automated testing product. Genie has the ability to rapidly auto-generate test cases, allowing customers to quickly launch their automated testing efforts. It is used by over 100 organisations to streamline their testing activity.
RapidIT-Cloudbera has operations in the US and India employing 101 people. Following the acquisition, its team will now join the Kainos Workday Products division.
Kainos plans to combine Genie with its own automated testing product, Smart Test, which will provide customers the ability to achieve greater compliance and quality assurance.
The company expects the integration of the products to complete during Kainos' current financial year.
Kainos recently re-confirmed its ambition for the Smart products suite, which includes Smart Test. The Smart products suite reported annual recurring revenue of 49 million pounds as of March 31, 2023, and is forecast to achieve 100 million pounds ARR by 2026. Malachy Smith, Workday Products Director at Kainos, 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."
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