Workiva, which makes software that connects financial software for reporting, has made its first acquisition. OneCloud provides iPaaS (integration platform as a service) software, and has been a partner of Workiva’s since 2019.
Financial terms of the deal were not disclosed.
OneCloud’s solutions offer integration, automation and data preparation for a range of technologies. Together, the two companies hope to accelerate digital transformation for their customers, which during the pandemic became a priority for firms and clients alike.
Workiva has worked with OneCloud as an original equipment manufacturer partner since July 2019. OneCloud’s technology expands upon the Workiva platform, providing customers the capability to connect data from sources such as ERP, GRC, HCM and CRM systems, as well as other third-party cloud and on-premise applications.
“Digital transformations continue to accelerate at a rapid pace,” said Workiva CEO Marty Vanderploeg in a statement. “Teams across the enterprise must quickly harmonize, simplify and control data, both financial and non-financial, from disparate source systems. The acquisition of OneCloud enables just that and positions Workiva to push the boundaries of innovation for our platform and solutions.”
“OneCloud has enjoyed a strong partnership with Workiva since 2019. During that time, we’ve been impressed with how Workiva utilized our technology to complement their innovative cloud platform,” added OneCloud CEO Quin Eddy, also in a statement. “Our team has been proud to be a part of Workiva’s growth story and we look forward to working together as an integrated team to connect enterprises across the globe.”
Workiva will be discussing the acquisition along with its financial results for the second quarter of fiscal year 2021 on its previously scheduled financial results conference call and webcast at 5:00 p.m. ET on Aug. 3, 2021.
Workiva is also holding its annual user conference, Workiva Amplify, in September, where it will be providing further information on this acquisition. Registration is available
