Workday, Inc. (WDAY), a provider of enterprise cloud applications for finance and human resources, has agreed to acquire Peakon ApS for consideration of about $700 million in cash, subject to adjustments, the two companies said Thursday. Peakon is a Denmark-based employee success platform that converts feedback into actionable insights.
The transaction is expected to close in the first quarter of Workday's fiscal year 2022, ending April 30, 2021.
The companies noted that the events of this past year have changed the world of work. This has forced organizations to rethink HR strategies and continually adapt approaches to engage, support, and retain talent. This includes consistently cultivating a two-way dialogue to hear, understand, and respond to employees.
Workday said that with Peakon, it 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.
"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," said Aneel Bhusri, co-founder and co-CEO of Workday.
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