Clearlake-Backed Cornerstone Acquires EdCast

Clearlake Capital Acquires Cornerstone OnDemand

October 15, 2021

Cloud & SaaS

Clearlake Capital Group completed its acquisition of Cornerstone OnDemand, buying all outstanding shares for $57.50 per share and taking the company private. Vector Capital also completed a minority investment; Clearlake said it will invest to accelerate product innovation and pursue add-on acquisition activity to drive Cornerstone's next phase of growth.

Cornerstone OnDemand (Clearlake-backed) Acquires SumTotal from Skillsoft

August 16, 2022

Cloud & SaaS

Cornerstone OnDemand, backed by Clearlake Capital Group, has completed its acquisition of SumTotal from Skillsoft, combining two learning and talent SaaS platforms. The deal expands Cornerstone's capabilities and vertical expertise in regulated industries while bringing SumTotal's customers and technology into Cornerstone's portfolio as an add-on to the PE-backed platform.

Cornerstone Acquires Talespin's Extended Reality Capabilities and Team

March 19, 2024

Software

Cornerstone OnDemand has acquired the extended reality (XR) learning capabilities and a team of specialized experts from Talespin to integrate immersive, AI-powered content authoring and skills analytics into its learning and talent experience platform. The acquisition adds Talespin’s XR experiences, CoPilot Designer no-code authoring tool, and generative AI learning labs to Cornerstone’s content subscriptions to accelerate immersive learning adoption across healthcare, manufacturing, retail and finance customers.

Limelight Networks (Edgio) Acquires Yahoo's Edgecast

June 16, 2022

Telecommunications

Limelight Networks completed the acquisition of Yahoo's Edgecast and the combined company rebranded as Edgio. The transaction includes a $30 million cash investment from Apollo Funds, gives Yahoo ~80.8 million Limelight shares (valuing Edgecast at roughly $300 million on a trailing VWAP), and is expected to deliver more than $50 million of annual run-rate cost synergies while expanding Edgio's scale and edge-enabled capabilities.

Clearlake Capital Acquires Discovery Education from Francisco Partners

March 9, 2022

Education

An affiliate of Clearlake Capital Group agreed to acquire a majority stake in Discovery Education from Francisco Partners, with Francisco Partners retaining a minority equity interest. The deal will leave Discovery Education’s CEO Scott Kinney and management team in place and is intended to accelerate platform growth, deepen distribution, and support strategic add-on M&A to expand the company’s digital K–12 curriculum offerings.

Cornerstone OnDemand Acquires SkyHive's Skills-Intelligence Capabilities

May 22, 2024

Cloud & SaaS

Cornerstone OnDemand acquired the workforce skills intelligence capabilities and team from SkyHive Technologies Holdings Inc., integrating SkyHive's AI-powered skills platform and labor-market data into Cornerstone Galaxy. The deal expands Cornerstone's reskilling and talent-intelligence capabilities, adding predictive labor-market insights, automated job architecture management, and domain experts to accelerate customers' skills-based workforce transformation.