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.