Workday to Acquire Peakon for $700M

/ / Workday to Acquire Peakon for $700M

Workday, Inc. (NASDAQ:WDAY), a Pleasanton, Calif.-based provider of enterprise cloud applications for finance and human resources, plans to acquire Peakon ApS, a Denmark-founded employee success platform that converts feedback into actionable insights. Under the terms of the agreement, Workday will acquire Peakon for consideration of approximately $700m in cash, subject to adjustments. The transaction is expected to close in the first quarter of Workday’s fiscal year 2022, ending April 30, 2021, subject to the satisfaction of customary closing conditions, including required regulatory approvals.

“Peakon is on the cutting edge of helping organizations turn employee insights into more connected teams and stronger organizations,” said Aneel Bhusri, co-founder and co-CEO, Workday. “Bringing Peakon into the Workday family will be very compelling to our customers – especially following an extraordinary past year that has magnified the importance of having a constant pulse on employee sentiment in order to keep people engaged and productive.”

“By joining forces with Workday, we’re able to accelerate our mission to help every employee drive the change they want to see,” said Phil Chambers, co-founder and CEO, Peakon. “We share Workday’s passion for putting people at the center of technology, and together, we’ll be able to provide customers with the employee insights they need to support rapid change and growth.”

With Peakon, Workday will provide organizations with a continuous listening platform, including real-time visibility into employee experience, sentiment, and productivity, to help drive employee engagement and improve organizational performance.

Announcement: Workday to Acquire Peakon for $700M