[UPDATE] Workday agrees to buy agent-identity firm C1.ai; analyst day reaffirms 11% FY28 subscription growth
In an SEC-filed press release dated Oct 13, Workday said it signed a definitive agreement to acquire C1.ai, an identity-governance platform for people and AI agents. Terms were not disclosed, and the deal is expected to close in fiscal Q4 2027. MarketBeat's account of the analyst day says the CFO described AI products as nearing $600M in annual recurring revenue. The same account says management reaffirmed 11% subscription growth entering FY2028 and a non-GAAP operating margin target above 33%. Still to come: how analysts reconcile AI revenue traction with slower overall subscription growth, which bears on the debate over seat-based versus token-based SaaS pricing.