TLDR
- Workday stock jumped nearly 18% after Reuters reported private equity firm Silver Lake is in talks to acquire the company.
- The stock was halted three times on circuit breakers due to extreme trading volatility.
- A deal would rank among the largest software buyouts in history, with Workday valued at around $43 billion before the news.
- Workday’s stock had fallen about 15% year-to-date and over 40% from its 2024 peak before the report broke.
- Silver Lake may bring in additional investors to finance the deal; no agreement has been confirmed.
Workday (WDAY) stock closed at $206.45 on August 13, up nearly 18% on the day, after Reuters reported that private equity firm Silver Lake is in talks to acquire the company. That move pushed Workday’s market value to around $51.1 billion from roughly $43 billion before the news broke.
The stock was halted three times during Thursday’s session as circuit breakers were triggered by the sharp surge in trading volatility.
Prior to the report, WDAY had closed at $175.29 on August 12. That put it down around 30% from its 52-week high of $249.85 and well off its 2024 peak. The stock had fallen roughly 15% year-to-date.
Silver Lake and Workday have held discussions about a potential deal in recent months, according to sources familiar with the matter. The talks are ongoing, and there is no guarantee a deal will be reached. Neither company responded to requests for comment.
SILVER LAKE IN TALKS TO ACQUIRE $WDAY
Silver Lake has held discussions in recent months to acquire Workday, which has a market value of about $43B, Reuters reports.
Talks are ongoing and there’s no guarantee a deal will be reached. pic.twitter.com/9VxXwDLxHP
— Wall St Engine (@wallstengine) August 13, 2026
If completed, the deal would rank among the largest software buyouts ever. Silver Lake may bring in outside investors to help finance the transaction. The firm previously partnered with Saudi Arabia’s Public Investment Fund and Affinity Partners on a roughly $55 billion take-private of Electronic Arts last year.
A Tough Year Before the Surge
Before Thursday’s jump, Workday had been under pressure all year. Investors have grown cautious about traditional software companies as artificial intelligence advances, raising questions about the long-term value of legacy platforms.
Private equity firms have mostly avoided large software take-privates in 2025 and into 2026 for the same reason. One of the few exceptions was Hg Capital’s $6.4 billion deal to take OneStream private in January. Thoma Bravo also agreed to acquire payroll software maker Dayforce for around $12.3 billion.
A Workday deal would dwarf both of those.
Company Background
Workday was founded in 2005 by former PeopleSoft executives Aneel Bhusri and David Duffield. It went public in 2012 and serves over 11,500 customers globally, including Netflix, US Bank, and Johns Hopkins University.
Aneel Bhusri returned as CEO in February, replacing Carl Eschenbach, as the company faces growing AI competition.
Workday posted revenue of $9.6 billion in fiscal 2025, up 13% year over year. Operating cash flow came in at $2.9 billion, up 19%. Revenue growth, however, slowed from 16% the prior year.
Workday employs around 2,200 people in Ireland.
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