Clearlake Capital Acquires Cornerstone OnDemand

Clearlake Capital Group Acquires Pathway Capital Management

November 12, 2025

Financial Services

Clearlake Capital Group entered into a definitive agreement to acquire Pathway Capital Management, a global private market solutions provider for institutional and wealth clients. The deal is expected to close in the first quarter of 2026, subject to regulatory approvals, and Pathway will retain its brand and operate independently as part of Clearlake’s investment solutions business. Clearlake later announced completion of the acquisition in June 2026.

Gemspring Capital Acquires ClearCompany

September 20, 2023

Cloud & SaaS

Gemspring Capital Management (through an affiliate) has acquired a majority interest in ClearCompany Holdings, Inc., a provider of talent management / human capital management (HCM) software. Financial terms were not disclosed; Gemspring said it will partner with ClearCompany's management to expand the customer base, enhance product offerings, and accelerate 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.

Clearlake-Backed Cornerstone Acquires EdCast

May 16, 2022

Cloud & SaaS

Cornerstone OnDemand, a cloud-based talent management software provider backed by Clearlake Capital, has completed its acquisition of EdCast, a learning experience platform (LXP) provider. The deal combines Cornerstone's LMS and talent management capabilities with EdCast's AI-powered skills engine and content marketplace to create a unified, platform-agnostic people growth experience for customers worldwide.

Clearlake Capital Completes Acquisition of Quest Software from Francisco Partners

February 2, 2022

Cybersecurity

Clearlake Capital Group completed its acquisition of Quest Software from Francisco Partners, making Clearlake the majority shareholder and partnering with Quest’s existing management team to pursue a buy-and-build strategy. The investment aims to accelerate Quest’s cloud/SaaS adoption, expand its identity-centric cybersecurity, data intelligence, and IT operations management offerings, and drive growth organically and through M&A.

Cornerstone OnDemand Acquires Saba Software from Vector Capital

April 22, 2020

Cloud & SaaS

Cornerstone OnDemand agreed to acquire Saba Software, a cloud-based talent management provider and Vector Capital portfolio company. The deal was announced in February 2020 for approximately $1.395 billion (cash and stock at signing) and completed in April 2020, with Vector Capital confirming a sale value of about $1.295 billion. The acquisition expands Cornerstone’s people-development and learning portfolio by integrating Saba’s learning, performance and recruiting capabilities.