Kainos: Belfast firm buys US company IntuitiveTEK

By John Campbell
BBC News NI Economics & Business Editor

  • Published
Kainos
Image caption,
Kainos employs 1,550 people across 12 offices in Europe and North America

Kainos, the Belfast-based IT company, has bought a firm in the United States.

It has paid an undisclosed sum for Colorado-based IntuitiveTEK, which has about 40 employees.

The deal is aimed at improving Kainos's position in the provision of Adaptive Insights, a business planning software product.

Brendan Mooney, the Kainos chief executive, said the deal was an "important step" for the expansion of its business in the US.

Kainos employs 1,550 people across 12 offices in Europe and North America.

In November, the company posted a strong set of results for the first half of the financial year.

Turnover was up 29% to £87m and adjusted pre-tax profit rose by 27% to £13m.

The company said it was showing good progress in growing its non-UK business, with international turnover up 86% to £18m.

It is due to begin work shortly on a new headquarters building in Belfast city centre.