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Workday logoWorkday WDAY

The company said it entered into a Merger Agreement with HiredScore, Inc. on February 23, 2024 and will acquire all of HiredScore's outstanding capital stock, subject to closing conditions and receipt of required regulatory approvals.

8-KOther EventsFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said it entered into a Merger Agreement with HiredScore, Inc. on February 23, 2024 and will acquire all of HiredScore's outstanding capital stock, subject to closing conditions and receipt of required regulatory approvals.

  2. The company said it expects the transaction to close in the first quarter of fiscal 2025, which ends in April 30, 2024, subject to customary closing conditions, including required regulatory approvals. The quarter is Q1.

  3. The company said it plans to combine Workday Talent Management, Workday Skills Cloud and HiredScore's Talent Orchestration solutions to offer talent acquisition and internal mobility products. It said HiredScore operates in 150 countries and is available in 70 languages.

  4. The company disclosed risks that the transaction may not be completed in a timely manner or at all, and that the expected benefits of the transaction may not be achieved. The company said Orrick is serving as legal advisor to Workday, and Cooley is serving as legal advisor to HiredScore and its shareholders.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Workday Enters Definitive Deal to Acquire HiredScore

The company said it entered into a Merger Agreement with HiredScore, Inc. on February 23, 2024 and will acquire all of HiredScore's outstanding capital stock, subject to closing conditions and receipt of required regulatory approvals.

Source · Based on the filing body and exhibits

Expected Closing Timing and Conditions

The company said it expects the transaction to close in the first quarter of fiscal 2025, which ends in April 30, 2024, subject to customary closing conditions, including required regulatory approvals. The quarter is Q1.

Source · Based on the filing body and exhibits

Combined Offering and HiredScore Business

The company said it plans to combine Workday Talent Management, Workday Skills Cloud and HiredScore's Talent Orchestration solutions to offer talent acquisition and internal mobility products. It said HiredScore operates in 150 countries and is available in 70 languages.

Source · Based on the filing body and exhibits

Transaction Risks and Legal Advisors

The company disclosed risks that the transaction may not be completed in a timely manner or at all, and that the expected benefits of the transaction may not be achieved. The company said Orrick is serving as legal advisor to Workday, and Cooley is serving as legal advisor to HiredScore and its shareholders.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.