Contact: Scott Denne
In announcing its fiscal first-quarter earnings yesterday, Workday also announced the purchase of recruiting startup Identified Inc. The tech and talent acquisition is Workday’s first since 2008.
Terms of the deal weren’t disclosed, but an equity analyst on Workday’s earnings call called out the price at $15m, which company executives did not refute. Though we haven’t confirmed that number, a price tag in the $10-20m range is feasible. Identified raised $22.5m in venture funding from VantagePoint Capital Partners and others.
The target built a service that enables recruiters to find prospective job candidates through analysis of social media files. Workday will scrap that offering, opting instead to use Identified’s employees and technology to embed machine learning and predictive analytics across product lines. Workday’s only other deal was the acquisition in 2008 of Cape Clear Software, an Irish middleware company with less than $15m in revenue. Following a recent secondary offering, Workday has amassed $1.9bn in cash and sports an enterprise value that’s 41x trailing revenue.
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