Workday, Inc. (NASDAQ:WDAY), a Pleasanton, Calif.-based leader in enterprise cloud applications for finance and human resources, is to acquire VNDLY, a Mason, OH-based provider of a cloud-based external workforce and vendor management technology.
Under the terms of the deal, Workday will acquire VNDLY for consideration of approximately $510m, consisting principally of cash, subject to adjustments. The transaction is expected to close in the fourth quarter of Workday’s fiscal year 2022, ending Jan. 31, 2022, subject to the satisfaction of customary closing conditions, including required regulatory approvals.
With VNDLY, Workday will provide organizations with a unified workforce optimization solution that will help organizations manage all types of workers—salaried, hourly, contingent, and outsourced—and support a holistic talent strategy, including insight into costs, workforce planning needs, and compliance.
As part of the agreement, Workday will continue to partner with and invest in VNDLY’s expansive managed services provider network to deliver service capabilities to customers. In addition, the company will continue to support and integrate with third party HR, finance, IT, and legal systems.
Founded in 2017 by Shashank Saxena, CEO, VNDLY provides a cloud-based platform and pre-built API integrations to create and support technology ecosystems while fostering digital transformations. The platform is composed of four modules: contingent workforce management, statement of work management, independent contractor compliance, and total talent acquisition.
Workday is a provider of enterprise cloud applications for financial management, human resources, planning, spend management, and analytics, which have been used by thousands of organizations around the world and across industries—from medium-sized businesses to the Fortune 500.
FinSMEs
21/11/2021