Workday Inc. has agreed to acquire business-intelligence software company Adaptive Insights for about $1.55 billion, in an effort to strengthen its financial planning products.
Under the deal, Pleasanton, Calif.-based Workday would acquire all shares outstanding of Adaptive Insights, including the assumption of about $150 million in unvested equity issued to Adaptive Insights employees. The transaction is expected to close in the third quarter of Workday’s fiscal year 2019, ending Oct. 31.
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