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Cornerstone Enters Definitive Agreement to Acquire EdCast

Cornerstone OnDemand, a leader in adaptive cloud-based HR software solutions, announced it has entered into a definitive agreement to acquire EdCast, a learning experience platform (“LXP”) software provider. The Company believes the combination aligns well with Cornerstone’s strategy of transforming the learning software market. Cornerstone, an industry leader in learning and talent software-as-a-service (“SaaS”) solutions, and EdCast, an LXP software provider, expect to reimagine the people growth experience to create the next generation technology blueprint for the future-ready workforce. Together Cornerstone and EdCast will accelerate value for customers with innovations in experiential learning, content and skill building, and a unified and scalable talent infrastructure designed to transform learning into a connected engine of growth, agility and mobility for people and business.

EdCast is a provider of LXP software solutions, known for its expertise and innovation in aggregating, curating, targeting, and delivering personalized and contextual learning to users. EdCast’s platform is powered by a skills engine and a content marketplace, with an experience delivered in the flow of work via an AI-powered knowledge cloud.

“The combination of Cornerstone and EdCast is poised to accelerate the pace of innovation in the market,” said Karl Mehta, CEO of EdCast. “Together we will transform the way our customers develop the skills of the future, retain and grow their people, improve agility, and unify and scale learning and talent infrastructure in lockstep with business needs.”

This acquisition is the first planned transaction by Cornerstone since joining the Clearlake portfolio in late 2021. With its strategic foundation established, significant positive momentum across the business, and optimal flexibility as a private company, Cornerstone is now poised to accelerate its growth and re-shape the future of the market. Clearlake and Cornerstone plan to continue accelerating the company’s value through inorganic and organic growth, transformation and market consolidation.

Source: Businesswire