Workday, a provider of enterprise cloud applications for finance and human resources, agreed to acquire Scout RFP, a leading cloud-based platform for strategic sourcing and supplier engagement, in an all cash transaction. Under the terms of the definitive agreement, Workday will acquire Scout RFP for consideration of approximately $540m, subject to adjustments. With Scout RFP, Workday will provide organizations a comprehensive source-to-pay solution with a best-in-class strategic sourcing offering to transform the procurement organization and deliver better business outcomes, including reduction in spend, greater policy compliance, and maximized engagement across key stakeholders. “As a Workday Ventures portfolio company and Workday Software Partner, we’ve been incredibly impressed with Workday's team, culture, customer focus, and products. In addition to our common passion for innovative technologies, our two companies also share a commitment to employee and customer satisfaction, which will enable us to advance our vision to transform strategic sourcing,” Alex Yakubovich, Scout RFP CEO.