Clearlake Capital Group is the private equity firm that owns Cornerstone OnDemand, a leading provider of cloud-based talent management software. The acquisition effectively took Cornerstone OnDemand private, aiming to provide the company with substantial strategic and financial support for its continued growth and innovation.
The Acquisition of Cornerstone OnDemand
Cornerstone OnDemand, known for its comprehensive suite of human capital management (HCM) solutions, was acquired by Clearlake Capital Group in a significant transaction. This strategic move, valued at approximately **$5.2 billion**, transitioned Cornerstone OnDemand from a publicly traded entity to a privately held company.The acquisition was driven by the goal to empower Cornerstone OnDemand with greater operational flexibility and financial resources. Industry experts noted that this change of ownership was designed to give the company the necessary support and room to expand its offerings and market presence without the immediate pressures of public market scrutiny.
Key aspects of the acquisition include:
- Enhanced Financial Backing: Clearlake Capital's investment provides Cornerstone OnDemand with robust financial support, crucial for research, development, and market expansion.
- Increased Flexibility: Operating as a private entity allows Cornerstone OnDemand to pursue long-term strategic initiatives and invest in areas that might not yield immediate public market returns.
- Growth Opportunities: The partnership with Clearlake Capital is expected to accelerate Cornerstone OnDemand's growth trajectory, enabling it to further innovate its product offerings and expand its global footprint.
About Clearlake Capital Group
Clearlake Capital Group is a prominent investment firm focused on private equity and special situations. With a diverse portfolio, Clearlake invests in dynamic companies where its strategic insights and capital can drive significant value creation. Their investment philosophy often involves partnering with management teams to implement operational improvements, foster growth, and execute strategic acquisitions. The acquisition of Cornerstone OnDemand aligns with Clearlake's history of investing in market-leading technology companies with strong growth potential.This ownership transition marks a new chapter for Cornerstone OnDemand, positioning it to leverage Clearlake Capital's expertise and resources to enhance its solutions and better serve its global client base in the evolving talent management landscape.
