Private equity firm Silver Lake is negotiating to acquire Workday, the HR and financial management software company. Workday's stock surged over 18% on the news.
Silver Lake, a major private equity player, is pursuing a deal to take over Workday, according to sources. The acquisition would value the cloud software company at approximately $43 billion.
Workday provides human resources and financial management platforms to enterprises globally. The company has established itself as a key player in cloud-based business applications, competing with vendors like Oracle and SAP.
The stock market reacted positively to acquisition speculation, with Workday shares jumping more than 18% following the Reuters report. The jump reflects investor optimism about a potential deal premium.
Silver Lake has a track record of large technology acquisitions and investments, often taking stakes in mature software companies. The firm typically pursues controlling stakes or full acquisitions in its portfolio companies.
No details have been disclosed regarding deal terms, timing, or whether other bidders are involved. Workday has not officially commented on the talks.
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