Workiva Acquires iPaaS Technology Provider OneCloud to Accelerate Digital Transformation for the Enterprise
August 02 2021 - 6:30AM
Business Wire
Acquisition Enables Workiva Customers to
Automate Integrations and Unlock Data Across Their Legacy Systems
and Cloud Applications
Workiva Inc. (NYSE:WK) today announced it has acquired next
generation iPaaS provider OneCloud (www.onecloud.io). The
acquisition solidifies and accelerates Workiva’s position as a
leading cloud platform for financial, regulatory and operational
reporting.
OneCloud is a pioneer in iPaaS technology that offers code-free
and intuitive integration, automation and data preparation for a
wide range of complex technologies. Together, the companies will
accelerate customers’ digital transformations by enabling them to
make smarter and faster decisions for better business outcomes.
Workiva has worked with OneCloud as an original equipment
manufacturer (OEM) partner since July 2019. OneCloud’s technology
expands the Workiva platform, providing customers the capability to
connect data from sources such as ERP, GRC, HCM and CRM systems, as
well as other third-party cloud and on-premise applications.
Workiva CEO Marty Vanderploeg commented, “Digital
transformations continue to accelerate at a rapid pace. Teams
across the enterprise must quickly harmonize, simplify and control
data, both financial and non-financial, from disparate source
systems. The acquisition of OneCloud enables just that and
positions Workiva to push the boundaries of innovation for our
platform and solutions.”
“OneCloud has enjoyed a strong partnership with Workiva since
2019. During that time, we’ve been impressed with how Workiva
utilized our technology to complement their innovative cloud
platform,” said OneCloud CEO Quin Eddy. “Our team has been proud to
be a part of Workiva’s growth story and we look forward to working
together as an integrated team to connect enterprises across the
globe.”
“As a business partner to both Workiva and OneCloud, this
acquisition offers us an opportunity to deliver tightly coupled
solutions to our customers, providing even greater control and
enhanced visibility while furthering digital transformation through
the office of finance,” said Trintech CEO Teresa Mackintosh.
“The Workiva platform enables us to easily connect our data and
processes from multiple sources and manage, analyze and report this
data in a single place. These capabilities have improved visibility
into our processes, reduced human errors and have been incredibly
beneficial for our company as we have grown our global footprint,”
said Solenis Vice President and Controller Jordan Brackett.
Terms of the agreement were not disclosed. Workiva will be
discussing the acquisition along with its financial results for the
second quarter of fiscal year 2021 on its previously scheduled
financial results conference call and webcast at 5:00 p.m. ET on
Aug. 3, 2021.
Additional Information
To visit the OneCloud landing page or request a demo:
http://workiva.com/onecloud
Workiva will provide further information regarding its data
leadership strategy and the integration of OneCloud’s technology
into the Workiva platform during the 2021 Workiva Amplify
conference in September. Register now for Workiva Amplify:
workiva.com/amplify
Forward‑Looking Statements
This press release contains "forward-looking statements" about
the expectations, beliefs, plans, intentions and strategies
relating to Workiva’s acquisition of OneCloud. Such forward-looking
statements include statements regarding future product capabilities
and offerings and expected benefits to Workiva. Forward‑looking
statements are subject to known and unknown risks and uncertainties
and are based on potentially inaccurate assumptions that could
cause actual results to differ materially from those expected or
implied by the forward‑looking statements. If any such risks or
uncertainties materialize or if any of the assumptions prove
incorrect, our results could differ materially from the results
expressed or implied by the forward‑looking statements we make. We
undertake no obligation, and do not intend, to update the
forward‑looking statements. Factors that may cause actual results
to differ materially from those in any forward‑looking statements
include, without limitation: assimilating or integrating OneCloud’s
technology into our platform; the inability to retain key employees
of OneCloud after the transaction closes; unanticipated expenses
related to OneCloud’s acquired technology; potential adverse tax
consequences; disruption to our business and diversion of
management attention and other resources; and potential unknown
liabilities associated with OneCloud’s business. Further
information on factors that could affect our financial and other
results is included in the filings we make with the Securities and
Exchange Commission from time to time.
About OneCloud
OneCloud is a modern iPaaS technology company that delivers
precise data for the connected enterprise. It provides intuitive,
comprehensive integration, data transformation, and automation for
a wide range of business-critical applications that reside
on-premises and in the cloud. OneCloud has the ability to integrate
with thousands of applications with specific connectors that
include pre-built intelligence.
About Workiva
Workiva Inc. (NYSE: WK) simplifies complex work for thousands of
organizations worldwide. Customers trust Workiva’s open,
intelligent and intuitive platform to connect data, documents and
teams. The results: improved efficiency, greater transparency and
less risk. Learn more at workiva.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210802005200/en/
Media Contact: Kevin McCarthy Workiva Inc. (515) 663-4471
press@workiva.com
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