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Workday to buy Adaptive Insights for $1.55 billion


(Reuters) - Workday Inc said on Monday it would buy Adaptive Insights Inc in a deal valued at $1.55 billion, paying a hefty premium for the cloud-based company that was expected to go public this week.Adaptive Insights, a provider of cloud platform for business planning, was expected to raise up to $123 million in its initial public offering, valuing the company at more than $600 million.Workday expects to fund the deal with cash from its balance sheet and assume about $150 million in unvested equity issued to Adaptive Insights employees. The deal is expected to close in Workday's third ...

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First Published: Mon, June 11 2018. 18:06 IST