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Workday (WDAY)

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  • Feb. 26, 2014, 6:31 PM
    • Along with its FQ4 results, Workday (WDAY) has announced the acquisition of Identified, a developer of HR analytics software that aims to provide insights into job candidates and recruiting activity.
    • The purchase appears to be an acqui-hire: Workday says Identified's R&D team is "expected to enhance search capabilities and accelerate the delivery of predictive analytics and machine learning throughout Workday’s suite of applications."
    • LinkedIn has also shown a keen interest in this area. Three weeks ago, the company announced it's acquiring Bright, a job search engine/listing platform that relies on analytics and machine learning algorithms to match workers and employers.
    • WDAY +2.7% AH. Shares were initially lower post-earnings.
    • FQ4 results, guidance/details
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  • Oct. 24, 2013, 12:09 AM
    • Ahead of tomorrow's Q3 report, NetSuite (N) has struck a deal to acquire TribeHR, a developer of cloud HR apps aimed at SMBs. NetSuite plans to fuse the startup's offerings with its SMB-focused cloud ERP apps.
    • "Really there has been no HR offering in the mid-market," states NetSuite CEO Zach Nelson (a little hyperbolically). He sees an intergrated ERP/HR solution allowing SMBs to do away with manual HR processes, and also talks up the value of TribeHR's social/collaboration tools.
    • The purchase means NetSuite will compete more with Workday (WDAY), which leads the cloud HR market and also offers cloud ERP software. But Workday has a stronger focus on large enterprises. Ultimate Software (ULTI), Cornerstone OnDemand (CSOD), and Paylocity (reportedly eying an IPO) also compete in cloud HR.
    • Separately, NetSuite and others see an opportunity for the company to poach clients from SAP's SMB-focused Business ByDesign cloud apps, which the German software giant has decided to pare its investments in. NetSuite has launched a Business ByDesign migration program.
    • SAP has reportedly invested €3B in Business ByDesign development over 7 years, but the platform has never generated more than €23M/year in sales in 3 years of availability. Business ByDesign resources will be shifted towards SAP's Hana Cloud, which runs cloud apps on top of the popular Hana in-memory database.
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Company Description
Workday Inc is a provider of enterprise cloud-based applications for human capital management, payroll, financial management, time tracking, procurement and employee expense management.
Sector: Technology
Country: United States