Adaptive Insights

Adaptive Insights — the American software developer for performance management of companies (CPM). The vendor offers cloud services which allow to set clients commercial purposes, to monitor for their accomplishment and also to control expenses and number of staff. By June, 2018 Adaptive Insights has about 3800 customers in the different countries.

History

2018: Workday purchased Adaptive Insights for $1.55 billion

On June 11, 2018 the producer of the corporate software Workday announced acquisition of Adaptive Insights how the IPO of the bought company had to take place.

The transaction which cost was $1.55 billion, it is going to close in the third financial quarter (will come to the end at Workday at the end of October, 2018). Workday will pay purchase from own means and by transfer to the staff of Adaptive Insights of actions for the amount of $150 million.

Workday purchased CPM developer for $1.55 billion

Allen & Company and Fenwick & West are selected by financial and legal advisors of Workday according to the transaction with Adaptive Insights whereas the last on financial questions advised Morgan Stanley, on legal — Cooley. After closing of the transaction the CEO of Adaptive Insights Tom Bogan will continue to direct the company.

Workday began to release the products similar to that which are offered by Adaptive Insights, in 2016. However acquisition of the competitor will allow Workday to accelerate development in the market for two-three years, the cofounder and the head of Workday Aneel Bhusri considers.

Adaptive Insights is the leader of the industry with  its  Business Planning Cloud platform, and together with  Workday we  will help clients to accelerate their  financial transformation in  a cloud — he said.

Adaptive Insights was going to go public in the middle of June, 2018. Within listing the company was going to attract up to $123 million, as a result market capitalization could exceed $600 million^[1]

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