Workday Inc. announced Thursday it is acquiring vendor management system provider VNDLY. The deal calls for Pleasanton, California-based Workday to pay $510 million comprising primarily cash, subject to adjustments.

“As organizations expand the definition of their workforce to meet growing business and talent demands, they need solutions that provide a holistic view of all worker types — including contingent workers — so they can better plan for and meet the great opportunity in front of them,” said Pete Schlampp, chief strategy officer, Workday. “VNDLY is at the forefront of the vendor management industry with an innovative and intuitive approach.”

The deal will close in VNDLY’s fiscal fourth quarter, which ends Jan. 31. The deal is subject to customary closing conditions, including required regulatory approvals.

“By joining Workday, we’ll be able to expand the value we bring to customers, helping provide greater visibility, collaboration and oversight to workforce needs and opportunities,” VNDLY co-founder and CEO Shashank Saxena said.

Workday will continue to partner with and invest in VNDLY’s managed services provider network and VNDLY will continue to support and integrate with third-party HR, finance, IT and legal systems. The company already has a certified integration with Workday.

In addition to the VNDLY acquisition, Workday reported revenue rose 20.0% year over year to $1.33 billion in its fiscal third quarter ended Oct. 31. It also promoted Doug Robinson to co-president and Barbara Larson to CFO.