Workday Acquires Swedish AI Firm Sana for 10 Billion SEK
Workday's acquisition of the Swedish AI company Sana signals a major move in the tech landscape.
- • Sana acquired by Workday for 10 billion SEK.
- • Joel Hellermark remains optimistic post-acquisition.
- • New Swedish dividend regulations may impact business owners.
- • Sana's valuation doubled since last funding round.
Key details
In a landmark move for the Swedish tech industry, American software giant Workday has acquired Sana, a prominent Swedish AI company, for approximately 10 billion SEK (around $1.1 billion). This acquisition marks a significant increase from Sana’s valuation during its previous funding round, which occurred less than one year ago, indicating strong investor confidence and robust growth potential within the company.
Joel Hellermark, the founder of Sana, expressed his enthusiasm regarding the acquisition, stating, "I have never had more energy – this is about winning." His remarks reflect a commitment to future developments within the company following the acquisition, which many see as a strategic move by Workday to enhance its AI capabilities.
The acquisition of Sana adds to a growing trend where international firms look to Swedish innovations in the AI sector, capitalizing on the country’s strong reputation for tech advancements. This merger also coincides with discussions in Sweden around proposed changes to the 3:12 tax rules, which are expected to affect dividend distributions starting in 2026. The new legislation aims to simplify how dividends are calculated, increasing the base amount for these calculations from 2.75 to 4 income base amounts (IBB), translating to 322,400 SEK for the upcoming year. Experts warn that owners who share businesses or have multiple companies could see reduced dividend payouts due to these structural changes in taxation.
This acquisition signals a potential shift in the Swedish AI landscape as larger companies like Workday seek to harness local talent and innovation, thereby increasing competitiveness on a global scale. The future relationships and developments resulting from this acquisition are likely to shape the trajectory of both Workday and Sana in the coming years. The completion of this deal marks only the beginning of what industry insiders speculate will be a critical partnership for advancing AI solutions in various markets.