Key Takeaways
- Silver Lake is reportedly considering a $43 billion acquisition of Workday.
- Workday shares jumped nearly 18% following reports of the potential transaction.
- The reported deal would rank among the software industry’s largest buyouts.
Silver Lake is reportedly in talks to acquire Workday for up to $43 billion, potentially creating one of the largest software industry buyouts. The discussions have reportedly continued for several months, although no agreement has been finalized. Workday’s shares jumped nearly 18% after the acquisition talks became public.
Silver Lake eyes major Workday acquisition
The reported transaction could value Workday at around $43 billion, roughly matching the company’s market capitalization before news of the discussions emerged. Workday shares closed at $206.45 on Thursday, lifting its market value to about $51.1 billion following the sharp increase amid Workday Acquisition speculation.
Silver Lake may bring additional investors into the proposed transaction to help finance the Workday Acquisition. The private equity firm has previously participated in major technology deals involving companies including Dell Technologies, VMware, and Qualtrics.
If completed at the reported valuation, the Workday Acquisition would become one of the largest take-private transactions involving a software company. It would also exceed several recent software buyouts by a significant margin.
The reported discussions come after a weaker period for Workday’s stock. Shares had declined about 15% in 2026 before the latest move and remained more than 40% below their 2024 peak.
Workday provides cloud-based software covering human resources, finance, payroll, spending, and workforce planning. The company serves more than 11,500 customers globally and has continued investing in artificial intelligence products, including through its acquisition of AI company Sana, alongside its core software operations.
Potential deal comes amid software industry changes
The potential Workday Acquisition would come at a time when artificial intelligence is changing expectations across the enterprise software industry. Traditional software companies have faced questions over how AI tools and automated agents could affect demand for existing products and influence future growth.
Workday has also been expanding its own artificial intelligence capabilities. In its latest financial report in May, the company reported stronger-than-expected revenue and earnings, supported partly by demand for its artificial intelligence offerings.
Workday was founded in 2005 by Aneel Bhusri and David Duffield and went public in 2012. Bhusri returned as chief executive in February after Carl Eschenbach stepped down from the position.
For Silver Lake, a Workday Acquisition would add another major enterprise technology company to its portfolio of past investments. For Workday, a completed transaction would mark a shift from being a publicly traded company to private ownership.
The reported $43 billion valuation would also make the potential transaction a major test of private equity demand for established software businesses. The outcome could draw attention across the enterprise technology sector as investors assess the value of companies adapting their products and business models to changing AI demand.
The discussions remain ongoing, and the reported Workday Acquisition has not been finalized, according to a report by Reuters, which first disclosed the talks.
