Silver Lake reportedly eyes Workday as software valuations tempt buyers

What's the deal? Reuters reported on 13 August 2026 that Silver Lake Partners and Workday have held talks in recent months about taking Workday private. No agreement has been announced, and the discussions could involve additional investors. The reported valuation is roughly $43bn.

Why now? The report sent Workday shares up sharply: CNBC reported a gain of nearly 18% by the close, while The Next Web reported that shares rose about 25% before trading was halted. Workday’s market value closed near $51bn, compared with around $43bn before the report. Its shares had fallen about 15% since the start of 2026 and more than 40% from their 2024 peak.

What it means. The reported approach comes as investors reassess enterprise software amid concerns that artificial intelligence could disrupt established software business models. Workday reported $2.5bn in revenue for the first quarter of fiscal 2027, up 13.5% year on year, while its AI offerings remain in the early stages of deployment and adoption depends on compliance, governance and change-management requirements.

The software signal. The Next Web described Workday’s employee-based subscription model as central to the debate over whether AI agents could reduce demand for software seats. Taking the company private could give an owner more time to adjust pricing and invest through that transition outside the pressure of quarterly public-market reporting.

Workday’s footprint. In 2025, Workday announced a €175m investment in Dublin, with plans to create more than 200 specialised roles in artificial intelligence, machine learning, cybersecurity and engineering.

Read more: Silicon Republic · CNBC · The Next Web