Wednesday, June 23

With oil down, this stock could be ripe for the picking

Adam Galica | CNBC

Aneel Bhusri, co-founder and CEO of Workday, at the 2018 WEF in Davos, Switzerland.

Private software-as-a-service company Adaptive Insights was ready to go public, traveling around the country promoting its upcoming initial public offering to its stakeholders.

Then cloud giant Workday came along, and $1.5 billion later, Adaptive Insights became a Workday subsidiary.

Adaptive Insights CEO Tom Bogan, who has called Workday co-founder and CEO Aneel Bhusri a friend for over a decade, told CNBC on Tuesday that Workday’s rapid takeover came down to two things: compatibility and trust.

“I think the key was the alignment of cultures of the two companies,” Bogan told Cramer in a joint interview with Bhusri. “Very customer-centric, very employee-centric, and with the working relationship Aneel and I had, there was a lot of trust, which was required to do a deal in a very short time frame.”

Adaptive Insights, which focuses on cloud-based planning, collaboration and analytics, will add some $5 billion to Workday’s market opportunity, not to mention its 4,000 customers and suite of offerings, Bhusri told Cramer.

Click here to watch and read more about the full interview.

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