Fenwick & West represented Scout RFP, a leading cloud-based platform for strategic sourcing and supplier engagement, in its definitive agreement to be acquired by Workday (NASDAQ:WDAY), a leader in enterprise cloud applications for finance and human resources.
Together, Scout RFP and Workday will deliver a modern source-to-pay solution that accelerates their momentum in the spend management market and expands how customers can plan, execute, analyze, and extend in one system. Under the terms of the definitive agreement, Workday will acquire Scout RFP for consideration of approximately $540 million in cash, subject to adjustments. The transaction is expected to close in the fourth quarter of Workday's fiscal year 2020, ending Jan. 31, 2020, subject to the satisfaction of customary closing conditions, including required regulatory approval.
More information about the acquisition can be obtained from Workday’s announcement.
Fenwick has served as primary outside counsel to Scout RFP, led by corporate partner Michael Brown. The Fenwick transaction team included corporate partners Kris Withrow and Michael Brown, associates Ryan McRobert, Sean Ahn and Melody Khorsandi, and law clerks Han Ko and Sarah Hill; executive compensation and employee benefits partner Gerald Audant, of counsel Mona Clee and associate Corinne Nhaissi; intellectual property and technology transactions partner Ralph Pais and associates Ana Razmazma and Pinar Bailey; and tax partner Idan Netser and associate Marianne Tassone.