Catenaa, Wednesday, September 17, 2025- Activist investor Elliott Management said on Tuesday it has built a stake of more than $2 billion in human resources software provider Workday while voicing support for the company’s leadership.
Elliott praised Workday’s CEO and CFO, citing strong progress in recent years and describing its management team as proven and effective.
The investor added that it was pleased with its dialogue with the company and expressed confidence that the multi-year plan outlined at Workday’s Financial Analyst Day would drive significant long-term value for shareholders.
In a separate statement, California-based Workday welcomed Elliott’s support, but did not elaborate on any specific initiatives.
Meanwhile, on Tuesday, Workday announced a $1.1 billion deal to buy AI firm Sana – its third AI-related deal in less than two months, following the acquisition of Paradox and Flowise in August.
The company is navigating intensifying competition in the crowded HR software sector, as rivals ramp up acquisitions to secure market share and embed the booming AI tech into their offerings to meet evolving customer demands.
Sana will continue to develop its Sana Learn and Sana Agents products, and Workday said the acquisition would enable Sana to accelerate growth and deliver additional innovation to customers at scale.
The enterprise highlighted that the deal will help it build what it calls the “work experience of the future,” bringing together enterprise knowledge, data, and actions in one place.
Workday noted that it will use its data on people and money, along with its partner ecosystem, to deliver a more personalized and proactive employee experience.
The deal is expected to close in the fourth quarter of Workday’s fiscal 2026, which ends Jan. 31, 2026, subject to customary conditions.
The company reported cash, cash equivalents, and marketable securities of $8.19 billion as of July 31, 2025.
Workday stock rose by over 10% on Wednesday morning; the stock is down by over 5% so far this year.
