Workday acquires VNDLY for $510 million, reports strong Q3

▤ Summary

Workday said it will acquire VNDLY, a cloud contractor and vendor management provider, for $510 million in cash. With the move, Workday is aiming to meld optimization tools for both internal and external salaried, hourly, contingent and outsourced workers. The rationale for the VNDLY purchase goes like this: • The two companies will have a unified system of record to manage customers entire workforce. • Workday with VNDLY can provide an end-to-end process for requisitions, statements of work, onboarding, invoicing and payroll. Workday said it will invest in VNDLYs managed service provider network and support third party integrations.

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