Acquisition Will Combine Industry-Leading
Responsible AI Solutions to Elevate the Talent Acquisition
Experience for Companies Around the World
PLEASANTON, Calif., Feb. 26,
2024 /PRNewswire/ -- Workday, Inc. (NASDAQ:WDAY), a
leading provider of solutions to help organizations manage their
people and money, has entered into a definitive agreement to
acquire HiredScore, a leading provider of AI-powered talent
orchestration solutions, which enable companies to use data-driven
insights to improve recruiting and talent mobility processes. The
combination of Workday Talent Management, Workday Skills Cloud, and
HiredScore's Talent Orchestration solutions, will provide customers
with a comprehensive, transparent, and intelligent talent
acquisition and internal mobility offering, helping them better
address their ever-evolving people needs.
"People are at the heart of every organization, and investing in
new and innovative ways to unlock the potential of talent is more
important than ever," said Carl
Eschenbach, CEO, Workday. "HiredScore is the perfect
complement to our product portfolio as we look to provide AI
solutions that deliver real business value for our customers. The
combination of our AI technologies that keep humans at the center,
along with a deep understanding of the workforce landscape, will
help organizations thrive and move forever forward."
"We've only just begun to see the opportunities of what is
possible with responsible AI in the workforce, and how
organizations can use it more efficiently and effectively to
deliver on HR transformation goals related to recruiting and
employee experiences," said Athena
Karp, founder and CEO, HiredScore. "By combining our efforts
and innovations with Workday, we'll be able to deliver even more
value to companies around the world as they look to build their
future HR function."
A Transformative Solution to Support Talent Needs
With
employers struggling to find the talent they need, and up to a
quarter of jobs expected to change in the next five years,
human resources leaders are facing an increasingly complex labor
market. The combination of Workday and HiredScore will provide
organizations with a comprehensive and intelligent talent
acquisition and internal mobility solution to help them keep pace
with growing workforce and business demands. This will include the
ability to:
- Leverage Responsible AI to Solve Recruiting
Challenges: With both companies committed to responsible
AI and keeping humans at the center of decision-making, the joint
offering will provide an explainable and trustworthy way for
customers to match, hire, and manage talent from across their
talent ecosystem.
- Better Manage the Talent Lifecycle: To help HR
leaders manage the holistic view of the talent lifecycle, Workday
and HiredScore will provide a combined offering that will better
enable recruiters to use data to connect talent to open
opportunities. This includes solutions that assist with identifying
candidates whose skills and experience most closely match a
customer's open jobs, accelerating screening using data-driven
insights, and identifying passive candidates – including within a
customer's talent ecosystem. The offering will also provide
enhanced internal mobility and upskilling by helping employees more
easily identify and prepare for new opportunities at their
company.
- Elevate the Recruiter and Hiring Manager
Experience: The combined Workday and HiredScore offering
will help companies make their talent acquisition efforts more
efficient by streamlining and expediting hiring processes through
automated notifications, guided experiences, and recommended action
items, all in their flow of work.
Details Regarding Proposed Acquisition of
HiredScore
The transaction is expected to close in the first
quarter of Workday's fiscal year 2025, ending April 30, 2024, subject to the satisfaction of
customary closing conditions, including required regulatory
approvals. Orrick is serving as legal advisor to Workday and
Cooley is serving as legal advisor to HiredScore and its
shareholders.
About Workday
Workday is a leading enterprise platform
that helps organizations manage their most important assets – their
people and money. The Workday platform is built with AI at the core
to help customers elevate people, supercharge work, and move their
business forever forward. Workday is used by more than 10,000
organizations around the world and across industries – from
medium-sized businesses to more than 50% of the Fortune 500. For
more information about Workday, visit workday.com.
About HiredScore
HiredScore is a leading provider of
Talent Orchestration technology. HiredScore's artificial
intelligence, automation, and deep integrations empower some of the
largest and most innovative companies in the world to safely and
transparently drive critical business outcomes in recruitment
productivity, internal mobility, and total talent management.
HiredScore's proprietary technology provides responsible AI that
seamlessly connects to data and systems to power the shift in HR
operating models. HiredScore is live in 150 countries and available
in 70 languages. Learn more at hiredscore.com.
Forward-Looking Statements
This press release contains
forward-looking statements related to Workday, HiredScore, and the
acquisition of HiredScore by Workday. These forward-looking
statements are based only on currently available information and
Workday's current beliefs, expectations, and assumptions. Because
forward-looking statements relate to the future, they are subject
to inherent risks, uncertainties, assumptions, and changes in
circumstances that are difficult to predict and many of which are
outside of Workday's control. If the risks materialize, assumptions
prove incorrect, or we experience unexpected changes in
circumstances, actual results could differ materially from the
results implied by these forward-looking statements, and therefore
you should not rely on any forward-looking statements. Forward
looking statements in this communication include, among other
things, statements about the potential benefits and effects of the
proposed transaction; Workday's plans, objectives, expectations,
and intentions with respect to HiredScore's business; and the
anticipated timing of closing of the proposed transaction. Risks
include, but are not limited to: (i) the risk that the transaction
may not be completed in a timely manner or at all; (ii) failure to
achieve the expected benefits of the transaction; (iii) Workday's
ability to implement its plans, objectives, and other expectations
with respect to HiredScore's business and its ability to deliver a
transformative solution to support talent needs and provide
customers with a comprehensive, transparent, and intelligent talent
acquisition and internal mobility offering; (iv) negative effects
of the announcement or the consummation of the transaction on
Workday's business operations, operating results, or share price;
(v) unanticipated expenses related to the acquisition; and (vi)
other risks and factors described in our filings with the
Securities and Exchange Commission ("SEC"), including our most
recent report on Form 10-Q or Form 10-K and other reports that we
have filed and will file with the SEC from time to time, which
could cause actual results to vary from expectations. Workday
assumes no obligation to, and does not currently intend to, update
any such forward-looking statements after the date of this
release.
Any unreleased services, features, or functions referenced in
this document, Workday's website, or other press releases or public
statements that are not currently available are subject to change
at Workday's discretion and may not be delivered as planned or at
all. Customers who purchase Workday services should make their
purchase decisions based upon services, features, and functions
that are currently available.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/workday-announces-intent-to-acquire-hiredscore-302071543.html
SOURCE Workday Inc.