NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
More news: Software
Written by / Agency / Source: Cornerstone OnDemand
Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Cornerstone Enters Definitive Agreement to Acquire EdCast - Acquisition is a strong fit with Cornerstone’s strategy to transform the learning software market landscape and accelerate Cornerstone’s vision to innovate and reimagine the growth experience for people at work - Clearlake.com / EdCast.com
Cornerstone Enters Definitive Agreement to Acquire EdCast

 

NewswireToday - /newswire/ - Santa Monica, CA, United States, 2022/03/17 - Acquisition is a strong fit with Cornerstone’s strategy to transform the learning software market landscape and accelerate Cornerstone’s vision to innovate and reimagine the growth experience for people at work - Clearlake.com / EdCast.com. NASDAQ: CSOD

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

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. Terms of the transaction, which is expected to close in Q2 2022, were not disclosed.

The Company believes the combination aligns well with Cornerstone’s strategy of transforming the learning software market. Cornerstone, an industry leader in learning and talent software-as-a-service (“SaaS”) solutions, and EdCast, an LXP software provider, expect to reimagine the people growth experience to create the next generation technology blueprint for the future-ready workforce. Together Cornerstone and EdCast will accelerate value for customers with innovations in experiential learning, content and skill building, and a unified and scalable talent infrastructure designed to transform learning into a connected engine of growth, agility and mobility for people and business.

“We are thrilled at the prospect of bringing such an incredible team of learning experts together to revolutionize the learning market,” said Himanshu Palsule, CEO of Cornerstone. “Today’s fragmented HR technology landscape is ripe for reinvention as organizations seek new ways to unify people and business in areas most critical to growth - workforce engagement, talent retention, skills transformation, and career mobility. Cornerstone and EdCast have the potential to deliver a next-generation learning and talent infrastructure, rapidly innovate a connected people growth experience, and create a new blueprint for the way organizations and their people grow and thrive, together.”

EdCast is a provider of LXP software solutions, known for its expertise and innovation in aggregating, curating, targeting, and delivering personalized and contextual learning to users. EdCast’s platform is powered by a skills engine and a content marketplace, with an experience delivered in the flow of work via an AI-powered knowledge cloud.

“The combination of Cornerstone and EdCast is poised to accelerate the pace of innovation in the market,” said Karl Mehta, CEO of EdCast. “Together we will transform the way our customers develop the skills of the future, retain and grow their people, improve agility, and unify and scale learning and talent infrastructure in lockstep with business needs.”

This acquisition is the first planned transaction by Cornerstone since joining the Clearlake portfolio in late 2021. With its strategic foundation established, significant positive momentum across the business, and optimal flexibility as a private company, Cornerstone is now poised to accelerate its growth and re-shape the future of the market. Clearlake and Cornerstone plan to continue accelerating the company’s value through inorganic and organic growth, transformation and market consolidation.

“The acquisition of EdCast underscores the fundamental growth thesis we see for Cornerstone in the market as a leading talent management SaaS platform provider,” said Prashant Mehrotra, Partner, and Paul Huber, Managing Director at Clearlake. “We are excited to continue building on Cornerstone’s industry reputation for providing innovative software solutions to our customers through acquisitions and organic initiatives. This acquisition represents an incredible opportunity for Cornerstone to deliver more value to our customers and their employees and combined with our O.P.S.® approach, should drive accelerated growth and value for the business.”

Deal Details

• The transaction is expected to close in the second quarter of 2022;
• The acquisition of EdCast is the first planned transaction by Cornerstone since becoming a private company and part of the Clearlake Capital portfolio;
• Macquarie Capital (USA) Inc. served as financial advisor to EdCast.

About Cornerstone

Cornerstone (cornerstoneondemand.com) powers the future-ready workforce with adaptive HR solutions designed to unite technology, data and content and inspire a work environment of growth, agility and success for all. With an AI-powered, skills-forward, experiential system designed for the contemporary workforce, we help organizations modernize their learning and development experience, deliver the most relevant content from anywhere, accelerate talent and career mobility and establish skills as the universal language of growth and success across their business. Cornerstone serves over 6,000 customers and 75M users and is available in 180 countries and 50 languages.

About EdCast

EdCast (edcast.com) is an award-winning platform for end-to-end employee and talent experience journeys spanning learning, skilling and career mobility. EdCast’s customers range from G2000 companies to small businesses to government organizations. With EdCast’s platform, enterprises are able to attract, develop and retain a high-performance and future-ready workforce. EdCast's offerings include its Talent Experience Platform (TXP), Content Strategy & Solutions (CSS), Spark for SMBs and MyGuide Digital Adoption Platform (DAP).

About Clearlake

Clearlake Capital Group, L.P. (clearlake.com) is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies.With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm's core target sectors are technology, industrials, and consumer. Clearlake currently has over $60 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas.

Media Contacts
Clearlake: Jennifer Hurson; E:- jhurson[.]lambert.com.
EdCast: Binit Agarwalla; E:- binit.agarwalla[.]edcast.com.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Cornerstone OnDemand

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
Software Warnings - IMPORTANT:
Always be aware/cautious about what you download on your computer/mobile! PURCHASE SOFTWARE related keywords / Banner Ads. Click HERE for details!
.

 
  Your Banner Ad showing on ALL
Software articles,
CATCH Visitors via Your Competitors Announcements!


Cornerstone Enters Definitive Agreement to Acquire EdCast

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
Publisher Contact: Deaira Irons - Cornerstoneondemand.com 
310-752-0164 dirons[.]csod.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Cornerstone OnDemand securities in any jurisdiction including any other companies listed or named in this release.

Software via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Cornerstone OnDemand / Company Profile


Read Software Most Recent Related Newswires:

OpenText Powers the Information Advantage with Cloud Editions 22.2
SAS Life Science Analytics Help Contract Research Organization Gunvatta Expedite Clinical Trials and FDA Reporting
OpenText Extends Reach of its Information Management Solutions in DACH Region through Partnership with Scheer Group
Infor Nets 7-Year SaaS Deal with New Zealand Seafood Giant Sealord
Siemens' NX Delivers Greater Cross-discipline Collaboration and Knowledge Capture
NRI Deploys Second OCI Dedicated Region to Run Key Financial Services on a Highly Available, Secure Cloud Platform
OpenText Accelerates Cloud Investments with Project Titanium
Tony’s Chocolonely Selects Aptean Food & Beverage ERP to Modernize Production at New Facility in Belgium
Siemens Extends Support of Multiple IC Design Solutions for TSMC’s Latest Processes
Kaleida Health Partners with Infor to Improve Enterprise Outcomes
Rocket Software Enhances Job Control Management Solution to Drive Efficiency in Mainframe Data Centers
Intergy Consulting Attains Another Gold Competency in the Microsoft Partner Network
Rocket Software Launches ASG-Enterprise Orchestrator 4.3.0 to Accelerate Delivery of Innovation
Infor Positioned as a Leader, for the Fourth Consecutive Time, in Gartner® Magic Quadrant™ for Multienterprise Supply Chain Business Networks
OpenText World EMEA 2022 to Showcase Innovations Enabling the Information Advantage™

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  Limelon Advertising, Co.





 
  ©2022 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)