Workday Inks Agreement to Acquire Scout RFP
San Francisco – November 5, 2019 – Cooley advised Workday on its agreement to purchase Scout RFP, a cloud-based platform for strategic sourcing and supplier engagement, for approximately $540 million. Lawyers Jamie Leigh, Garth Osterman and Alexandra Cotter led the Cooley team advising Workday on the agreement.
“Scout RFP is an industry leader that is loved by procurement teams who are undergoing a significant shift to better optimize spend,” Aneel Bhusri, Workday co-founder and CEO, said in a news release. “Together, we will deliver a modern source-to-pay solution that accelerates our momentum in the spend management market and expands how customers can plan, execute, analyze and extend in one system.”
Founded in 2005, Workday is a leading provider of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management, planning and analytics applications designed for the world’s largest companies, educational institutions and government agencies.
With Scout RFP, Workday will provide organizations a comprehensive source-to-pay solution with a best-in-class strategic sourcing offering to transform the procurement organization and deliver better business outcomes.
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