Dayforce Completes Acquisition of eloomi
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Insights
The acquisition of eloomi by Dayforce, Inc. represents a strategic move in the human capital management (HCM) space, aiming to bolster their offerings in the learning and development (L&D) domain. As organizations increasingly recognize the importance of investing in employee growth, the demand for comprehensive L&D tools has surged. This acquisition allows Dayforce to integrate eloomi's AI-enabled Learning Management System (LMS) and Learning Experience Platform (LXP), thus enhancing their competitive edge.
From a market perspective, this move could potentially increase Dayforce's market share by offering a more robust all-in-one HCM solution. It is also likely to resonate well with enterprises seeking to consolidate their HCM solutions, which could lead to increased customer retention and attraction of new clients. However, the success of this acquisition will largely depend on the smooth integration of eloomi's technology and the ability to maintain service quality for the existing customer base.
Financially, the acquisition is a significant investment for Dayforce, Inc. The market will be closely monitoring the financial performance indicators such as revenue growth, cost synergies and return on investment in subsequent quarters. The acquisition cost and the way it was financed will also be of interest, as it impacts the company's balance sheet and future financial flexibility. If Dayforce manages to leverage eloomi's capabilities effectively, there could be a positive impact on the company's earnings per share and overall financial health, making it an attractive prospect for investors.
However, investors should be cautious about potential integration risks and the time it takes to realize synergies. The long-term financial benefits depend on how well Dayforce can cross-sell to eloomi's existing customer base and upsell their expanded offerings to current clients.
The HCM industry is rapidly evolving with a strong focus on integrated solutions that address various aspects of employee management and development. The acquisition of eloomi indicates Dayforce's commitment to providing a comprehensive suite that meets the modern workforce's expectations. By enhancing their L&D offerings, Dayforce could set a new industry standard for how HCM platforms support continuous learning and talent development.
However, the industry is also highly competitive, with many players vying for market share. The integration of eloomi's AI-driven platforms could place Dayforce at the forefront of innovation in the HCM sector, but it also poses a challenge to maintain a lead as competitors are likely to follow suit with similar advancements. The ability to provide a seamless user experience and measurable outcomes for clients will be crucial for Dayforce to capitalize on this acquisition.
Customers to benefit from optimized training and people development capabilities for the extended workforce
MINNEAPOLIS and TORONTO, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Dayforce, Inc. (NYSE: DAY; TSX: DAY), a global human capital management (HCM) leader that makes work life better, today announced it has completed the acquisition of eloomi A/S, a leading learning experience platform software provider based in Copenhagen, Denmark, and Orlando, Florida. The acquisition was previously announced on January 18, 2024, and closed effective February 1, 2024.
“The acquisition of eloomi marks a significant milestone for our company as it serves to further our leadership in talent development, and better position Dayforce as the all-in-one HCM solution for organizations around the world,” said Joe Korngiebel, Chief Product and Technology Officer, Dayforce. “We believe the seamless integration of eloomi into Dayforce will empower customers with best-in-class people development capabilities, addressing the dynamic learning and development needs of today’s boundless workforce.”
eloomi is recognized for its modern learning approach, combining an AI-enabled Learning Management System (LMS) with an intuitive Learning Experience Platform (LXP), that optimizes training and development programs for organizations, their employees, and extended workforces. With this acquisition, the eloomi team joined Dayforce, Inc., serving its more than 850 customers worldwide as Dayforce.
“To truly win with learning and development programs today, organizations need to address the growing expectations of the modern workforce by prioritizing the end-to-end employee experience. With expanded training and people development capabilities within Dayforce, we’ll continue to guide customers through workforce complexities and drive quantifiable value for both employers and their employees,” added Korngiebel.
Dayforce serves millions of users and nearly 6,400 customers globally, including some of the largest and most recognizable brands in the world.
About Dayforce
Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, payroll, talent, workforce management equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.
Forward-Looking Statement and Risk Factors
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our acquisition of eloomi; the integration of eloomi’s products into ours; the enhancement of Dayforce’s learning management and talent offerings as a result of the acquisition; and our expectations, hopes, intentions, or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to the future and are not statements of fact, actual results may differ materially from those projected. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release should be read in conjunction with the risks detailed in the “Cautionary Note Regarding Forward-Looking Information,” “Forward-Looking Statement”, “Risk Factors” and other sections of Dayforce’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and other reports we file with the Securities and Exchange Commission. Copies of reports filed with the Securities and Exchange Commission are posted on our website and are available from us without charge.
Investor Relations contact:
Matt Wells
investors@dayforce.com
Media contact:
Teri Murphy
1- 647-417-2117
teri.murphy@dayforce.com
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