Private equity firm Silver Lake is in discussions to acquire Workday, the human resources and financial management software company, in a potential transaction that could rank among the largest software buyouts in history, according to people familiar with the matter.
Workday has a market value of about $43 billion. Silver Lake and the company have held discussions about a possible acquisition in recent months, the people said.
The talks remain ongoing, although there is no assurance that they will result in a transaction. The sources spoke on condition of anonymity because the discussions are confidential.
Workday’s stock has come under pressure this year as investors assess the resilience of traditional software businesses amid the rapid advancement of artificial intelligence. The company’s shares have declined about 15% this year and remain more than 40% below their 2024 peak.
The potential transaction comes as the software industry faces increasing scrutiny over how AI could reshape demand for established enterprise applications. For Workday, the market’s concerns have contributed to a significant decline in its share price from its 2024 high.
If completed at a valuation around its current market value, a Silver Lake acquisition of Workday would represent a major private equity transaction and rank among the largest software buyouts in history. However, the discussions remain preliminary, and the parties may ultimately decide not to proceed with a deal.
For now, Silver Lake and Workday continue to evaluate a potential transaction, with no final agreement announced.
Silver Lake and Workday remain in discussions over a potential acquisition involving the software company, which has a market value of about $43 billion. While the transaction could become one of the largest software buyouts in history, no deal has been finalised and the talks could still end without an agreement.
