WDAY Workday Inc

By Michael Dabaie

Workday Inc. said it would acquire employee feedback technology company Peakon ApS for about $700 million in cash.

Workday, a provider of enterprise cloud applications for finance and human resources, said it expects the deal to close in its first quarter, which ends April 30.

Workday shares were up 0.7% to $225.05 premarket.

"Bringing Peakon into the Workday family will be very compelling to our customers--especially following an extraordinary past year that has magnified the importance of having a constant pulse on employee sentiment in order to keep people engaged and productive," said Workday Co-Chief Executive Aneel Bhusri.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

January 28, 2021 09:31 ET (14:31 GMT)

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