CORNERSTONE

Clearlake Capital-Backed Cornerstone Enters Definitive Agreement to Acquire EdCast

Retrieved on: 
Thursday, March 17, 2022
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Cornerstone OnDemand, a leader in adaptive cloud-based HR software solutions, today announced it has entered into a definitive agreement to acquire EdCast, a learning experience platform (LXP) software provider.

Key Points: 
  • Cornerstone OnDemand, a leader in adaptive cloud-based HR software solutions, today announced it has entered into a definitive agreement to acquire EdCast, a learning experience platform (LXP) software provider.
  • The combination of Cornerstone and EdCast is poised to accelerate the pace of innovation in the market, said Karl Mehta, CEO of EdCast.
  • This acquisition is the first planned transaction by Cornerstone since joining the Clearlake portfolio in late 2021.
  • Clearlake and Cornerstone plan to continue accelerating the companys value through inorganic and organic growth, transformation and market consolidation.

Cornerstone OnDemand Names Software Industry Veteran Himanshu Palsule as CEO

Retrieved on: 
Tuesday, January 4, 2022
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Cornerstone OnDemand, Inc. (Cornerstone), a leading provider of cloud-based talent management software solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, Clearlake), today announced that Himanshu Palsule has joined Cornerstone as CEO and a member of the Board of Directors, effective immediately.

Key Points: 
  • Cornerstone OnDemand, Inc. (Cornerstone), a leading provider of cloud-based talent management software solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, Clearlake), today announced that Himanshu Palsule has joined Cornerstone as CEO and a member of the Board of Directors, effective immediately.
  • Former CEO Phil Saunders will join Cornerstone Founder Adam Miller as senior advisors to the Company.
  • View the full release here: https://www.businesswire.com/news/home/20220104005749/en/
    Himanshu Palsule has joined Cornerstone as CEO.
  • (Photo: Business Wire)
    We are excited to welcome Himanshu to the Cornerstone executive team.

Cornerstone Partnership with WaitWhat Brings Masters of Scale Podcast and Courses Exclusively to Cornerstone Customers

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Tuesday, December 7, 2021
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Cornerstone OnDemand, Inc. , a leader in adaptive HR solutions, will deliver curated courses from the award-winning Masters of Scale podcast to organizations worldwide through Cornerstone Content Anytime (CCA).

Key Points: 
  • Cornerstone OnDemand, Inc. , a leader in adaptive HR solutions, will deliver curated courses from the award-winning Masters of Scale podcast to organizations worldwide through Cornerstone Content Anytime (CCA).
  • Created by WaitWhat and hosted by Reid Hoffman, co-founder of LinkedIn and partner at Greylock, the Masters of Scale collection on CCA will include 150 podcast episodes, audio courses and animated videos.
  • The collaboration between WaitWhat and Cornerstone to produce innovative learning formats and actionable content will further bolster the value for customers and their people.
  • Cornerstone serves over 6,000 customers and 75M users and is available in 180 countries and 50 languages.

Cornerstone Recognized in 2021 Fosway 9-Grid™ as a Strategic Leader for Talent & People Success

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Monday, December 6, 2021
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Cornerstone OnDemand, Inc. , a leader in adaptive HR solutions, today announced its Strategic Leader position in the 2021 Fosway 9-Grid for Talent & People Success.

Key Points: 
  • Cornerstone OnDemand, Inc. , a leader in adaptive HR solutions, today announced its Strategic Leader position in the 2021 Fosway 9-Grid for Talent & People Success.
  • Introduced in 2019, the Fosway 9-Grid for Talent & People Success recognized a new era of positive disruption in talent management as organizations looked to get their people strategies fit for the future.
  • Cornerstones position as Strategic Leader in the 2021 Fosway 9-Grid for Talent & People Success reflects the companys focus on creating the personalized experience modern businesses need to offer their people to transform, stay agile and to attract, develop and retain talent.
  • Cornerstones leadership placement in the Fosway 9-Grid for Talent & People Success highlights the companys continued investment in innovation to power the future-ready workforce.

Clearlake Capital Completes Acquisition of Cornerstone OnDemand

Retrieved on: 
Friday, October 15, 2021
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Clearlake Capital Group, L.P. (together with its affiliates Clearlake) today announced that it has completed its acquisition of Cornerstone OnDemand, Inc. (NASDAQ: CSOD, Cornerstone OnDemand, or Cornerstone), a global leader in talent management software.

Key Points: 
  • Clearlake Capital Group, L.P. (together with its affiliates Clearlake) today announced that it has completed its acquisition of Cornerstone OnDemand, Inc. (NASDAQ: CSOD, Cornerstone OnDemand, or Cornerstone), a global leader in talent management software.
  • The acquisition was previously announced on August 5, 2021, and was approved by Cornerstone OnDemand shareholders on October 12, 2021.
  • Under the terms of the agreement, Clearlake has acquired the outstanding shares of Cornerstone common stock for $57.50 per share in cash.
  • Clearlakes investment in Cornerstone is an exciting and important step for our company and our customers, said Phil Saunders, CEO, Cornerstone.

Cornerstone OnDemand Enters Definitive Agreement to Be Acquired by Clearlake Capital Group in $5.2 Billion Transaction

Retrieved on: 
Thursday, August 5, 2021
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Cornerstone OnDemand, Inc. (NASDAQ: CSOD), a global leader in talent management software, today announced it has entered into a definitive agreement to be acquired by Clearlake Capital Group, L.P. (together with certain of its affiliates, Clearlake), a leading private equity firm.

Key Points: 
  • Cornerstone OnDemand, Inc. (NASDAQ: CSOD), a global leader in talent management software, today announced it has entered into a definitive agreement to be acquired by Clearlake Capital Group, L.P. (together with certain of its affiliates, Clearlake), a leading private equity firm.
  • Under the terms of the agreement, Clearlake will acquire the outstanding shares of Cornerstone common stock for $57.50 per share in cash.
  • Additionally, Cornerstone will benefit from the operating capabilities, capital support and deep sector expertise of Clearlake and their strong track record with software platform investments.
  • Certain stockholders, including Clearlake, representing 15.65% of the Companys outstanding shares have agreed to vote their shares in favor of the transaction.