Regional News

US: Workday acquires Adaptive Insights for $1.55 billion

By Katherine Fanning 0 Comments NEWS, Regional News

Workday Inc. has recently announced the purchase of Adaptive Insights Inc. for an estimated $1.55 billion, considered a large premium. The cloud-based company for business planning is expected to go public shortly.

Initially, the company was set to raise approximately $123 million during its IPO, which would value the company at over $600 million.

Workday intends on completing the transaction with cash acquired from its balance sheet. Around $150 million in unvested equity will be assumed and delivered to Adaptive Insights staff.

Workday's financial adviser is Allen & Company LLC, with Fenwick & West LLP taking up the legal front.

Morgan Stanley & Co. LLC acts as financial adviser for Adaptive Insights, with Cooley LLP on legal.

Join us in Miami from the 20th to the 22nd of June for the Global Online Marketplaces Summit. Our summit theme is From Classifieds to Marketplaces – Capturing Value from the Transaction and we’ll hear from Global Leaders who are creating the Online Marketplaces of Tomorrow.

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