(Reuters) -Activist investor Elliott Management said on Tuesday it has taken more than $2 billion stake in human resources software seller Workday.

Elliott said it is pleased with its dialogue with the leadership team at Workday and expressed confidence that the multi-year plan outlined at the company's Financial Analyst Day will generate substantial long-term value for shareholders.

Earlier on Tuesday, Workday announced it would buy AI firm Sana for about $1.1 billion, underscoring growing consolidation in the HR software space as companies race to embed the booming tech into their products in meet evolving customer demands.