The deal, reported to be for $200 million, was announced on June 13 and is expected to close in the second half of 2022. . This transaction enables us to sharpen our focus on accelerating growth in our core business of providing customers transformative learning experiences, Tarr says in a Skillsoft statement. Cornerstone OnDemand Acquires SumTotal Santa Monica-based human resources and e-learning software developer Cornerstone OnDemand has acquired SumTOtal, a competing provider of learning and human capital management software, according to private equity backer Clearlake Capital. Combined with Cornerstones other recent acquisitions, including its EdCast acquisition earlier this summer, the addition of SumTotal will accelerate people-centric innovation and help organisations develop and engage their workforce on a path of continuous growth and skill building. Companies no longer really want their LMS to operate as an employee-facing system, Bersin says. 30 reviews #12 of 14 Restaurants in Hallbergmoos $$ - $$$ German. Disaster Ready - Cornerstone OnDemand . The future of Cornerstone OnDemand is bright with these leaders. 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 HR Tech Firm Cornerstone to Acquire SumTotal Systems from - Reworked This announcement follows Cornerstones recent acquisition of EdCast, which has fueled the companys strategy to create an open platform for people development, growth, and mobility. 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. SANTA MONICA, Calif. June 13, 2022 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 entered into a definitive agreement with Skillsoft (NYSE: SKIL), to acquire SumTotal, a provider of learning and human capital management software-as-a-service (SaaS) for customers in highly regulated and complex industries. Ces trois mois de printemps ont t placs sous le signe de la croissance et du dveloppement : celui de nos collaborateurs, de nos comptences, de notre expertise, de . Clearlake Capital-Backed Cornerstone Completes Acquisition of SumTotal Jennifer Hurson jhurson@lambert.com, Combination of learning and talent SaaS platforms poised to help organizations drive greater people growth and business success, 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. Terminalstrasse Mitte 18 Terminal 1 - Module A - Level 04, 85356 Hallbergmoos, Bavaria Germany +49 89 97593101 Website + Add hours. Today is an exciting day for our teams, our customers, and our industry, said Himanshu Palsule, CEO of Cornerstone. By clicking Accept All, you consent to the use of ALL the cookies. Perspectives and expertise by and for learning leaders. Claimed. Bersin says the SumTotal LMS software is the combination of many older LMS technologies and the LMS market has moved on to skills-based systems. 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. The acquisition of SumTotal is yet another opportunity for Cornerstone to deliver more value to its customers and employees. 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. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. In the 2022 fiscal year, SumTotal generated approximately $123 million in bookings and $120 million in revenue. Clearlake Capital-backed Cornerstone enters definitive agreement to SKILLSOFT ENTERS AGREEMENT TO SELL SUMTOTAL TO CORNERSTONE | SumTotal After buying EdCast and SumTotal, what's the plan at Cornerstone? Combination of learning and talent SaaS platforms poised to help organizations drive greater people growth and business success. The combination of Cornerstone and SumTotal will provide organisations with more power to build and strengthen their learning and talent management programmes, driving better people development and productivity. 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 ALLRESTO, Hallbergmoos - Restaurant Reviews, Photos - Tripadvisor The SumTotal's hold within vertical markets will merge well with Cornerstone's current portfolio. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. It also brings expertise as well as customers in specific vertical markets. Wendy's Logo. SumTotal and Cornerstone share a passion for people growth and development. Clearlake Capital-Backed Cornerstone To Acquire SumTotal The combined company will be positioned to deliver a differentiated, expanded portfolio of learning, talent, and people growth solutions with broader vertical expertise, greater financial resources, and a shared vision for the future of work. This is a great tool for middle to a large company that wants to have virtual learning access, manager rosters, and robust reporting on multiple data points. 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. Stay up to date on the latest articles, webinars and resources for learning and development. Cornerstone will continue to advance its products, technologies, and services with an unwavering commitment to customer success, and the most flexible options to support the skills transformation, people experience and talent management priorities of an expanded global customer base. Clearlake Capital-Backed Cornerstone Enters Definitive Agreement to 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. Cornerstone OnDemand, a leader in adaptive cloud-based HR software solutions, backed by Clearlake Capital Group, announced it has entered into a definitive agreement with Skillsoft, to acquire SumTotal, a provider of learning and human capital management software-as-a-service for customers in highly regulated and complex industries. Combined with our O.P.S. improvement approach, we are confident this acquisition will drive growth and value for the business.. While our collective expertise and scale has the potential to transform learning, the value of the combination extends well beyond that.. We also use third-party cookies that help us analyze and understand how you use this website. Can't access your account? These cookies will be stored in your browser only with your consent. With the addition of SumTotal, Cornerstone will be positioned to help a larger, more diverse group of customers transform the way they identify and develop the skills of the future, engage and develop their people, and optimize talent and business agility. This is Cornerstone's 1st transaction in Florida. The traditional compliance-based LMS market, which SumTotal pioneered, has simply become a feature set of back-office software.. 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. SumTotal partners with many leading global organizations, including a number of Fortune 500 companies. Ian Argent - Customer Sales Director - SumTotal Systems, LLC - LinkedIn Clearlake Capital-Backed Cornerstone Completes Acquisition of SumTotal The companies said that Jim Gill, EVP Americas at . SumTotal partners with many leading global organizations, including a number of Fortune 500 companies. SumTotal, which focuses on developing learning and HCM software for highly regulated industries, is a neat fit with Cornerstone's content-heavy strategy for developing its customer base and roadmap. HOTEL REGENT, Hallbergmoos - Tripadvisor Reviews More expertise. santa monica, calif.- ( business wire )- cornerstone ondemand, a leader in adaptive cloud-based hr software solutions, backed by clearlake capital group today announced it has entered into a definitive agreement with skillsoft, to acquire sumtotal, a provider of learning and human capital management software-as-a-service for customers in highly Gary Lacey - Senior Solutions Architect - SumTotal Systems, LLC | LinkedIn 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, "clearlake"), today announced it has completed its acquisition of sumtotal, a provider of learning and human capital management software-as-a-service SumTotal provides a unified, comprehensive Learning and Talent Development suite that delivers measurable impact across the entire employee lifecycle. 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. WeLearn 2.0 SANTA MONICA, Calif., September 13, 2022--SumTotal Skills Blueprint, powered by Lightcast, gives licensed customers the job and skills blueprints to supercharge their talent development effort Centerview Partners LLC served as financial advisor to Cornerstone and Clearlake, and Sidley Austin LLP served as legal counsel. The newly combined company will provide more than 7,000 customers worldwide access to: Cornerstones acquisition of EdCast earlier this summer aims to create an open platform for people development, growth, and mobility, powered by AI, machine learning, and people data. The firm is headquartered in Santa Monica, CA, with affiliate offices in Dallas, TX, London, UK and Dublin, Ireland. Cornerstone OnDemand, a leader in adaptive cloud-based HR software solutions backed by Clearlake Capital Group, L.P. announced it has completed its acquisition of SumTotal, a provider of learning and human capital management software-as-a-service solutions ("SaaS . Analytical cookies are used to understand how visitors interact with the website. Provide your employees with a powerful, engaging and personalized learning experience for development and growth. Owler Reports - Sumtotal: Clearlake Capital-Backed Cornerstone To Learn more about the acquisition of Cornerstone OnDemand and SumTotal Shared by Jos Vandevelde Even more growth, expertise, and choice for #HR, learning, and talent leaders. The combination of Cornerstone and SumTotal provides organizations with more power to build and strengthen their learning and talent management programs and drive greater people growth and business success. By bringing these two important product categories together, the company gives customers a one-stop solution for end-to-end learning solutions.. 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 With learning at the heart of our solution, we have built a . PJT Partners served as the exclusive financial advisor to Skillsoft, and Weil, Gotshal & Manges LLP served as the Companys legal counsel. Cornerstone buys SumTotal for $200m | UNLEASH Cornerstone Acquires SumTotal Deal creates combination of learning and talent SaaS platforms August 17, 2022 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. The most trusted source of information on the business of learning. Cornerstones recent acquisition of learning experience platform software EdCast. Cornerstone to acquire SumTotal from Skillsoft for $200 million Arthur Chia - Customer Sales Director APAC - SumTotal - LinkedIn Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Combined with our O.P.S. improvement approach, we are confident this acquisition will drive growth and value for the business.. Cornerstone Acquires SumTotal Systems | Mergr M&A Deal Summary With SumTotal, organizations can build a culture of learning that is critical to growth, success, and business sustainability. Read More The post Clearlake Capital-Backed Cornerstone To Acquire SumTotal appeared first on citybiz. SumTotal Launches Skills Blueprint, a Market-Informed Recommendation More information is available at www.clearlake.com and on Twitter @Clearlake. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. Deaira Irons dirons@csod.com, Clearlake With Skillsoft, customers gain access to blended, multimodal learning experiences that do more than build skills, they grow a more capable, adaptive, and engaged workforce. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. Onwards and upwards. Register here. etc. Digital learning platform provider Skillsoft agreed to sell its SumTotal business to Cornerstone OnDemand for approximately $200 million in cash. The report also focuses on the competitive landscape of the global Human Capital Management (HCM) Software market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. We're looking for a Solution Consultant This role is Hybrid SumTotal, now part of Cornerstone OnDemand, offers All the tools your organization needs to drive compliance, employee skilling and upskilling, and career development and planning. 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. Sazz Ariyanayagam on LinkedIn: The future of Cornerstone OnDemand is The Company partners with enterprise organizations and serves a global community of learners to prepare todays employees for tomorrows economy. Clearlake Capital-Backed Cornerstone Enters Definitive Agreement to Acquire SumTotal, a Skillsoft Company Strategic combination will further expand Cornerstone's capabilities, enhance reach. Jos Vandevelde - VP of Engineering - SumTotal Systems, LLC - LinkedIn Welcome to WeConnect! A seasoned Cornerstone executive, Mr. Gill previously led teams at both SumTotal and Saba, and brings a wealth of knowledge in highly regulated and complex industries in which SumTotal operates. Target SumTotal Systems CEO of Skillsoft Jeffrey Tarr says the divestiture of SumTotal will help align and simplify Skillsofts portfolio. You can tell a lot about Clearlake's strategy for Cornerstone from its two very different acquisitions. Join us on 18-20 October at Cornerstone Convergence 2022 to learn more about the latest trends, the vision, the road ahead. 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, 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). 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. Welearn Login Wendys SumTotal provides an end-to-end solution to meet all Learning Management and Talent Development needs. Clearlake Capital-Backed Cornerstone Completes Acquisition of SumTotal SumTotal provides a unified, comprehensive Learning and Talent Development suite that delivers measurable impact across the entire employee lifecycle. 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, 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). The combination of Cornerstone and SumTotal creates an expansive assembly of nearly 4,000 talent-focused employees around the world, working alongside thousands of customers. Necessary cookies are absolutely essential for the website to function properly. Cornerstone serves over 7,000 customers and 90 million users and is available in 180 countries and 50 languages. With SumTotal, organizations can build a culture of learning that is critical to growth, success, and business sustainability.
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