Workday Acquires Scout RFP for US$540 Million

Workday (NASDAQ:WDAY), cloud fintech firm has completed the acquisition of Scout RFP for US$540 million. Scout RFP, based in San Francisco, California is a strategic sourcing firm that optimizes supplier contracts across manufacturing, technology, healthcare and retail, among others.

As quoted in the press release:

“With Scout RFP now part of Workday, we will equip procurement teams with a modern source-to-pay solution to help optimize spend with greater efficiency, engagement, and transparency,” said Aneel Bhusri, co-founder and CEO, Workday. “I’m thrilled to welcome this talented team to Workday. By bringing together our joint focus on employees, customers, and innovation, we will be able to set the new standard for spend management.”

“We founded Scout RFP with the idea to rethink strategic sourcing and help businesses create even more impact with their procurement processes. Five years later, we have nearly 300,000 global Scout RFP users and a growing team of innovators,” said Alex Yakubovich, CEO, Scout RFP. “As part of Workday, we’ll be able to pioneer simpler, smarter, and streamlined procurement solutions – at a greater scale – all while unifying our two great company cultures.”

Click here to read the full press release.