Cornerstone + SumTotal Welcome to the Cornerstone community We're so glad you're here! Back in 2014, learning and development (L&D) management company SkillSoft acquired SumTotal . Cornerstone Showcases Expanded Portfolio at HR Tech 2022 The acquisition of SumTotal is yet another opportunity for Cornerstone to deliver more value to its customers and employees. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. HR technology firm Cornerstone OnDemand has agreed to acquire talent development software suite SumTotal Systems from Skillsoft. Grandparents: Forget everything you ever knew about taking care of babies, Only time will tell if September was the nadir: Zillow reports sharp home-value declines in these cities, amid grim outlook for U.S. housing market, How we got to the highest inflation in 40 years. Cornerstone and SumTotal - eLearning Learning By continuing to browse, you hereby agree to the use of cookies. Clearlake Capital-Backed Cornerstone Enters Definitive Agreement to More options for growth Visit a quote page and your recently viewed tickers will be displayed here. Skillsoft acquired Smartforce, NetG, ElementK, Mindleaders, Books24x7 and. Cornerstone 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. Read More The post Clearlake Capital-Backed Cornerstone To Acquire SumTotal appeared first on citybiz. Cornerstone OnDemand, Inc. backed by Clearlake Capital Group has completed its acquisition of SumTotal, a provider of learning and human capital management software-as-a-service solutions, previously a part of Skillsoft. Clearlake Capital-Backed Cornerstone Completes Acquisition of SumTotal Reading, United Kingdom. Weve been joined by experts from organizations like Saba, EdCast, Grovo and Clustree, who share our passion for people growth, and our commitment to HR and learning leaders. Centerview Partners LLC served as financial advisor to Cornerstone and Clearlake, and Sidley Austin LLP served as legal counsel. 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. Please continue to reach out to your account managers with questions and ideas. Centerview Partners LLC served as financial advisor to Cornerstone and Clearlake, and . jhurson@lambert.com, COMTEX_412380813/2456/2022-08-16T08:30:18. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Clearlake Contact the source provider Comtex at editorial@comtex.com. Sean McClanahan - Compliance Manager - Cornerstone OnDemand - LinkedIn Well keep the lines of communication open! No financial terms. Skillsoft ( NYSE: SKIL) to sell its SumTotal (SUMT) business, a provider of learning and human capital management software for highly regulated industries, to Cornerstone OnDemand ( CSOD) for. With our platform agnostic approach to innovation, youll get more options for people experiences that you wont find anywhere else, plus a frictionless ecosystem and faster people-centric innovation that meets you where you are now, and where you want to go next. Cornerstone OnDemand Inc, which is backed by Clearlake Capital Group LP, has acquired Gainesville, Florida-based SumTotal, a provider of human resource management software. Santa Monica-based Cornerstone OnDemand, the maker of human resources software whcih is now owned by private equity firm Clearlake Capital Group, says it has completed its acquisition of SumTotal, a provider of learning and human capital management software. boston - june 13, 2022 - skillsoft corp. (nyse: skil) ("skillsoft" or the "company"), a platform for transformative learning experiences, today announced it has entered into a definitive agreement to sell its sumtotal business, a provider of learning and human capital management software ("lms" and "hcm") for highly regulated industries, to August 17, 2022. https://www.businesswire.com/news/home/20220815005698/en/. Wir machen Ihre Teams fit fr die Zukunft, Der Erfolg unserer Kund:innen steht an erster Stelle, Diversitt, Chancengleichheit und Inklusion (DEI) am Arbeitsplatz, Schulungen fr Kund:innen und Partner:innen, .css-2yuoxy{font-size:1.125rem;font-style:normal;font-weight:400;line-height:1.75;color:var(--csod-colors-primary-dark_blue);margin-top:0px;margin-bottom:0px;text-align:left;min-height:1.175rem;}.css-2yuoxy:lang(de),.css-2yuoxy:lang(nl),.css-2yuoxy:lang(se){font-size:1rem;}.css-2yuoxy:lang(it),.css-2yuoxy:lang(mx),.css-2yuoxy:lang(es),.css-2yuoxy:lang(br),.css-2yuoxy:lang(fr){font-size:0.938rem;}. Learn more at www.sumtotalsystems.com. Cornerstone Acquires SumTotal | citybiz In the 2022 fiscal year, SumTotal generated approximately $123 million in bookings and $120 million in . Combined with our O.P.S. improvement approach, we are confident this acquisition will drive growth and value for the business.. News Jun 13, 2022. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. Jul 2016 - Present6 years 5 months. Were so glad youre here! SANTA MONICA, Calif., June 13, 2022--Cornerstone has entered into a definitive agreement with Skillsoft (NYSE: SKIL) to acquire SumTotal, a provider of learning and HCM software. This has been an incredibly important year for Cornerstone, and its acquisition of SumTotal underscores our commitment to the fundamental growth strategy we set out for the company a year ago, said Prashant Mehrotra, Partner, and Paul Huber, Managing Director, at Clearlake. $2 billion Powerball results finally announced: Here are the winning numbers. Cornerstone erwartet eine starke Geschftsdynamik fr 2022, Wachstum im Online-Lernen, kundenorientierte Produktinnovationen, Anerkennung in der Branche und geplante bernahme von EdCast sorgen fr Dynamik im ersten Quartal. As a SumTotal customer, this acquisition brings more power to HR and learning leaders like you, more growth for your people and organization, and more of what you love. Skillsoft Enters Agreement to Sell SumTotal to Cornerstone for $200 Himanshu PalsuleChief Executive Officer, Cornerstone, Resources to help you become a better HR leader, Share your success with a global audience, Our partners are hand-selected for their expertise, Seize new opportunities as a SumTotal partner, Take the Organizational Maturity Index, 7 Steps to Building a Governance Model for Shared Learning, SumTotal Organizational Maturity Index, Flexible options that support the use cases and talent priorities of our expanded global customer base, Continued enhancements, investments, and support for the solutions you rely on, Access to new and continued innovations across our entire portfolio, More solutions, more focused service, and better outcomes for you. Fast forward to 2022, Cornerstone is buying SumTotal off Skillsoft for $200 million. Please continue to reach out to your account managers with questions and ideas. Cornerstone 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005698/en/, Cornerstone Combination of learning and talent SaaS platforms poised to help organizations drive greater people growth and business success Cornerstone OnDemand, Inc., a leader in adaptive cloud-based HR . Cornerstone OnDemand, Inc., a leader in adaptive cloud-based HR software solutions backed by Clearlake Capital Group, L.P. (together with its affiliates, Clearlake), today announced it has completed its acquisition of SumTotal, a provider of learning and human capital management software-as-a-service solutions (SaaS), previously a part of Skillsoft (NYSE: SKIL). SumTotal has an analyst rating of 69 and a user sentiment rating of 'fair' based on 125 reviews, while Cornerstone OnDemand has an analyst rating of 84 and a user sentiment rating of 'great' based on 1252 reviews. Ian Argent - Customer Sales Director - SumTotal Systems, LLC - LinkedIn JOSH BERSIN Cornerstone Acquires SumTotal For $200 . Is there a problem with this press release? Cornerstone serves over 7,000 customers and 90 million users and is available in 180 countries and 50 languages. All rights reserved. Were delighted to welcome the SumTotal team and customers to join this remarkable community that is transforming the learning and talent landscape.. On June 13, 2022, Cornerstone acquired software company SumTotal Systems from Skillsoft Acquisition Highlights This is Cornerstone's 3rd transaction in the Software sector. The combination of Cornerstone and SumTotal provides organisations with more power to build and strengthen . Mit insgesamt 550 Vortrgen auf 17 Bhnen konnten sich die Besucher:innen inspirieren lassen und sich Impulse fr ihre HR-Strategie der Zukunft holen. Were so glad youre here! Together, were focused on growth for your people and for your business, regardless of your industry or your talent technology. Dana, Iowa, United States. Cornerstone has a rating of 4.2 stars with 113 reviews. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. Clearlake Capital-Backed Cornerstone Completes Acquisition of SumTotal Weve been joined by experts from organizations like Saba, EdCast, Grovo and Clustree, who share our passion for people growth, and our commitment to HR and learning leaders. SANTA MONICA, Calif.--(BUSINESS WIRE)--Cornerstone OnDemand, Inc., a leader in adaptive cloud-based HR software solutions backed by Clearlake Capital Group, L.P. (together with its affiliates, Clearlake), today announced it has completed its acquisition of SumTotal, a provider of learning and human capital management software-as-a-service solutions (SaaS), previously a part of Skillsoft (NYSE: SKIL). SumTotal Talent Development ranks higher in 3/3 features HR Reporting Feature Set Not Supported 1.0 View full breakdown SumTotal Talent Development ranks higher in 1/1 features Attribute Ratings Cornerstone OnDemand is rated higher in 4 areas: Likelihood to Recommend, Likelihood to Renew, Usability, Support Rating Likelihood to Recommend 8.2 SumTotals award-winning technology provides talent acquisition, onboarding, learning management, and talent management solutions across some of the most innovative, complex, and highly regulated industries, including technology, airlines, financial services, healthcare, manufacturing, and pharmaceuticals. We are thrilled to see the growing strength of Cornerstones industry reputation with a focus on broader choice, greater innovation and a hyper-focus on customer success. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. SANTA MONICA, Calif. Aug. 25, 2022 Cornerstone, the cloud-based talent management software company, has completed its acquisition of SumTotal, a provider of learning and HR software-as-a-service solutions, previously part of Skillsoft. Centerview Partners LLC served as financial advisor to Cornerstone and Clearlake, and Sidley Austin LLP served as legal counsel. Comments are Off, Combination of learning and talent SaaS platforms poised to help organizations drive greater people growth and business success. SumTotal Launches Skills Blueprint, a Market-Informed Recommendation Jennifer Hurson santa monica, calif., august 16, 2022--cornerstone ondemand, inc., a leader in adaptive cloud-based hr software solutions backed by clearlake capital group, l.p. (together with its affiliates,. The deal is expected to close in the second half of 2022. by Ave Rio June 13, 2022 . Regardless of your platform, youll always find an unwavering commitment to customer choice so you can decide what works best for you. With learning at the heart of our solution, we have built a . Skillsoft : Enters Agreement to Sell SumTotal to Cornerstone for $200 Cornerstone Acquires SumTotal For $200 Million Josh Bersin on Enterprise Learning JUNE 13, 2022 Today was a pretty iconic announcement: after decades of investment, Skillsoft decided to give up on the LMS market and sell SumTotal Systems to Cornerstone for $200 Million. Clearlake Capital-backed Cornerstone Completes Acquisition of Sumtotal 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 Clearlakes operational improvement approach, O.P.S. The firms core target sectors are technology, industrials, and consumer.
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