Workday Soars Most On Record As Silver Lake Weighs $43 Billion Buyout
Workday shares jumped the most on record during late-afternoon trading on Thursday after a Reuters report said Silver Lake was in discussions to acquire the human-resources and financial-management software company.
According to the report, the deal would value Workday at $43 billion and rank among the largest software buyouts in history.
Here's more from the report:
Silver Lake and the human-resources and financial management software company have held discussions about a potential deal in recent months, the people said. The talks are ongoing and there is no guarantee a deal will materialize, said the sources, who spoke on condition of anonymity because the discussions are confidential.
For context, Workday is a large enterprise-software company whose cloud platform helps organizations manage:
- Human resources, payroll and employee benefits
- Recruiting, workforce planning and performance
- Accounting, budgeting and financial reporting
- Procurement and expenses
- Business analytics and AI agents
Shares of Workday soared as much as 25%...
the largest one-day gain on record, with trading data dating back to 2012.
Workday, like many other software companies, suffered a vicious bear market earlier this year amid the "SaaSpocalypse" ...
... as investors feared that artificial intelligence models would erode the value of costly software products.