Clearsight Advises Premier Workday Partner Meteorix on Acquisition by IBM

Clearsight Advisors served as exclusive financial and strategic advisor to Meteorix on its announced acquisition by IBM.

ARMONK, N.Y. – 28 Sep 2015: IBM (NYSE: IBM) today announced plans to acquire Meteorix LLC, a premier Workday (NYSE: WDAY) services partner, to help companies gain new competitive advantage by aligning people with financial performance and redefine work with the speed and simplicity of cloud-delivered finance and HR services.

Executives are under increased pressure to make the best possible decisions faster and with more predictable outcomes to drive growth and competitive advantage. Companies are looking for new ways to attract, engage, develop and support employees amidst the fierce global competition for top talent. Advancements in cloud, mobile, analytics and cognitive computing allow both finance and HR executives to operate with a more complete, real-time picture of their organization.

Workday is one of the world’s leading providers of enterprise cloud applications for finance and HR. With an exclusive focus on Workday, Meteorix has cultivated deep expertise and best practices for maximizing returns from the strategic use of Workday applications. Meteorix has more than 200 certified Workday consultants and a track record of success delivering complex, high-value services to multi-national leaders and innovators across a wide range of industries.

“The planned acquisition of Meteorix can make IBM one of the leading, most qualified and experienced Workday service providers in the world,” said Bridget van Kralingen, senior vice president, IBM Global Business Services. “It deepens the quality of service to existing Workday clients and dramatically expands our reach to new clients. Meteorix’s Workday implementation experience combined with our industry and transformational expertise as well as the industry’s foremost business analytics capability and leadership in cognitive computing will unlock next-generation employee engagement and productivity while accelerating financial performance.”

“We owe Meteorix’s rapid growth and success to the dedication and customer focus of our team as well as our strong commitment to Workday. Once part of IBM, we’ll strengthen our unwavering commitment to customer success while adding global scale, deepening industry and business transformation expertise and tapping IBM innovation,” said Sam Spector, CEO of Meteorix. “The combined expertise of IBM and Meteorix will enable clients to rapidly implement and maximize the value of Workday while transforming their finance and HR capabilities for the future. That’s a win for everyone.”

The majority of Workday customers rely on the expertise of service providers that meet Workday’s stringent requirements and are able to align corporate challenges with the capabilities of Workday applications. The planned acquisition of Meteorix will expand IBM’s ability to help clients deploy Workday applications and transform traditional finance and HR.

“The combination of IBM and Meteorix will bring significant added value to our customers,” said Aneel Bhusri, co-founder and CEO, Workday. “Meteorix’s deep Workday experience together with the industry expertise of IBM gives our customers a global strategic partner to help them put their finance and HR operations in the cloud and transform their businesses for future growth.”

This planned acquisition will build on IBM’s significant investments and research in cloud computing and workforce science. IBM continues to help clients apply behavioral science and world-leading capabilities in advanced analytics, technology integration and psychological principles to drive better business performance. IBM Cloud offers one of the industry’s largest portfolio of software, services, data center solutions and consulting for private, public and hybrid cloud environments.

Financial terms and conditions were not released.

About Meteorix

Founded in 2011, Meteorix offers consulting, deployment, integrations and on-going post production services for Workday Financial Management and Human Capital Management (HCM) applications. Meteorix currently serves a diverse customer base of multinational leaders and innovators across a wide variety of industries in the U.S. and Canada. Recently named to the INC 500/5000 list of fasting growing companies in the United States, HfS Research also placed the company in the Winner’s Circle in a new report on the Workday Services Partner ecosystem for its excellence in innovation and execution. Sample clients include Extra Space Storage, Lewis & Clark College, CustomInk, Mountain America Credit Union, City Year, and Champlain College. For more information on Meteorix capabilities and customer success stories, visitwww.Meteorix.com

About IBM

For more information, visit www.ibm.com/gbs/workday.