Workday to acquire Denmark-based Peakon for $700M

Workday Inc. signed a definitive agreement to acquire Denmark-based employee engagement platform provider Peakon ApS for about $700 million in cash, subject to adjustments.

The deal will allow Workday to use Peakon's technology to help companies capture insights into employees' sentiments, experience and productivity, in a bid to drive employee engagement, build an inclusive workplace culture and boost organizational performance, a Jan. 28 statement said.

The transaction is expected to be completed in the first quarter of Workday's fiscal 2022, ending April 30, subject to regulatory approvals and other customary closing conditions.

Orrick and Bech-Bruun are Workday's legal advisers on the transaction. Peakon and its shareholders tapped Wilson Sonsini Goodrich & Rosati, Osborne Clarke and Highbridge for legal advice.