Sources: Silver Lake is in talks to acquire HR and financial management software maker Workday, which has a market value of ~$43B; WDAY jumps 18%+
THE SO WHAT
If a $43B core back-office SaaS asset can credibly go private, public markets are repricing mature software as cash-flow machines, not growth stories. Operators in adjacent categories should expect more PE-style pressure on margins, upsell, and AI monetization levers.
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