Workday, Inc. (NASDAQ:WDAY), a Pleasanton, Calif.-based provider of enterprise cloud applications for finance and human resources, acquired 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.
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.
The combination will merge intelligent technology from Peakon that determines and distributes surveys and information to the right person at the right time, with the comprehensive employee insight in Workday, to help leaders continually discover and respond to evolving employee feelings, needs, and behaviors.
Led by Phil Chambers, co-founder and CEO, Peakon is an employee success platform that converts feedback into insights users can put to work. It makes the employee conversation quantifiable and actionable to increase employee engagement – not simply measure it. To date, the company has served organizations like Capgemini, The Adecco Group, Delivery Hero, Staples and easyJet, among others.
A Medium post with further information and a quote from Lars Jörnow, Partner, EQT Ventures, which exited Peakon, can be found here