Workday Signs Agreement to Acquire Evisort
Evisort's platform uses AI to extract clear and actionable insights from complex legal and business documents stored in document management systems. With Workday and Evisort's combined solutions for document intelligence, customers can bring unstructured data from document management systems into Workday, which can in turn help them manage people and money processes more efficiently and intelligently.
The transaction is expected to close in the third quarter of Workday's fiscal year 2025, ending October 31, 2024, subject to the satisfaction of customary closing conditions. Orrick is serving as legal advisor to Workday and Goodwin is serving as legal advisor to Evisort and its shareholders.
"AI is a powerful force, transforming how organizations convert unstructured data in documents into strategic business decisions. We're excited to combine Evisort's document intelligence technology with Workday's unified finance and HR platform, which will empower customers to leverage critical business data more effectively, within a single system of truth." Jerry Ting, Founder and CEO, Evisort.
