Skipping the Prom: Adaptive Insights Drops IPO for $1.55 Billion Workday Buyout

Adaptive Insights was set to go public on Thursday, the latest cloud-based technology company poised to cash in. But a funny thing happened on its way to an IPO: Enterprise-software company Workday (ticker: WDAY) agreed on Monday to buy Adaptive for about $1.55 billion in cash to strengthen its financial planning products.

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