Comments on the News
“ Adaptive Insights is an industry leader with its Business Planning Cloud platform, and together with Workday, we will help customers accelerate their finance transformation in the cloud, ” said Aneel Bhusri, Co-Founder and CEO, Workday. “ I am excited to welcome the Adaptive Insights team to Workday and look ahead to coming together to continue delivering industry-leading products that equip finance organizations to make even faster, better occupation decisions to adapt to change and to drive growth. ”
“ Joining forces with Workday accelerates our imagination to drive holistic business design and digital transformation for our customers, ” said Tom Bogan, CEO, Adaptive Insights. “ Most importantly, both Adaptive Insights and Workday have an employee-first and customer-centric access to developing enterprise software that will only increase the might of the combine companies. ”
Driving Finance Transformation Together
today ’ s moral force commercial enterprise environment requires leaders across an administration to endlessly collaborate on plan to adapt to business changes while driving growth and performance.
To further empower organizations to leverage next-generation plan as their strategic advantage, Workday intends to combine the Adaptive Insights Business Planning Cloud – used by thousands of customers of all sizes around the populace – with its leading suite of applications for finance and HR. together, Workday and Adaptive Insights will enable customers to better design, perform, and analyze across the enterprise all in one system – the leading cloud chopine to drive their fiscal and business transformations.
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adaptive Insights will continue to be led by CEO Tom Bogan, reporting to Aneel Bhusri. Under their leadership, Workday will farther ability its fiscal plan products with Adaptive Insights Business Planning Cloud, while continuing the current roadmap and strategy for its work force plan products.
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Details Regarding Proposed Acquisition of Adaptive Insights
Under the terms of the authoritative agreement, Workday will acquire all of the outstanding shares of Adaptive Insights for approximately $ 1.55 billion including approximately $ 150 million in unvested equity issued to Adaptive Insights employees. The transaction is expected to close in the third base draw of Workday ‘s fiscal class 2019, ending October 31, 2018, subject to the satisfaction of accustomed shutting conditions. Workday expects to fund the circumstance with cash from its balance wheel tabloid .
Allen & Company LLC is serving as exclusive fiscal adviser to Workday, and Fenwick & West LLP is serving as its legal adviser. Morgan Stanley & Co. LLC is acting as fiscal adviser to Adaptive Insights, and Cooley LLP is serving as its legal adviser .
Management Conference Call
Workday and Adaptive Insights will host a conference call to discuss this transaction at 6:00 ante meridiem PT / 9:00 a.m. ET on June 11, 2018. A live dial-in is available domestically at ( 833 ) 261-9369 and internationally at ( 352 ) 672-9806, passcode 7793755. A alive audiocast of the event will be available on the Workday Investor Relations web site. A replay will be available at ( 855 ) 859-2056 or ( 404 ) 537-3406 until 12:00 ante meridiem PT / 3:00 a.m. ET on September 10, 2018 .
- Please visit the Workday Blog for additional perspective and an FAQ from Workday Chief Products Officer Petros Dermetzis
- Please visit the Adaptive Insights Blog for additional perspective from Adaptive Insights Founder Rob Hull