Kainos: Belfast-based IT firm buys business in Argentina

Kainos specialises in helping organisations to digitise their operations and is a major supplier to UK government departments

Kainos, the Belfast-based IT firm, has bought a business in Argentina.

The purchase of UNE Consulting is part of a strategy to grow the firm's international practice in Workday, a suite of financial management and HR software.

The deal will add 42 staff, mainly in the Americas.

It is Kainos' fifth deal of this type having previously bought small businesses in the US, UK, Germany and Finland.

The latest deal comes as Kainos issued an upbeat trading statement for the first half of the financial year.

The move will grow the company's international practice in financial management and HR software

It said trading continued to be "robust" across the business with a significant pipeline of new work.

It has increased its workforce significantly in the last six months from about 2,000 to 2,400.

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The firm said it expects full year revenue to be ahead of current consensus forecasts and adjusted profit to be in line with consensus forecasts.

Kainos specialises in helping organisations to digitise their operations and counts the UK government as one of its major clients.

It is one of Northern Ireland's most successful firms with a current stock market valuation of about £2.4bn.