From education to employment

Clearlake Capital-Backed Cornerstone Completes Acquisition of EdCast

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Cornerstone OnDemand, Inc., a cloud-based talent management software provider backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced it has completed its acquisition of EdCast.

Cornerstone and EdCast are united in a vision to create an open platform for people development, growth, and mobility, powered by AI, machine learning, and people data. The platform will enable organisations of all sizes to create a scalable learning infrastructure, extend the impact of talent technology investments, and deliver personalised growth for employees that spans learning, skill development, content, and career mobility. Together, Cornerstone and EdCast will help organisations around the world improve productivity across their businesses.

“Cornerstone’s acquisition of EdCast is a significant moment for the industry. While our collective expertise and scale has the potential to transform learning, the value of the combination extends well beyond that,” said Himanshu Palsule, CEO of Cornerstone. “Combined with the EdCast team, Cornerstone is fast tracking our commitment to platform-agnostic innovation. We’re excited to accelerate our shared and complementary vision to create a more open platform for talent leaders, and an AI-powered growth experience for people. Together, we’ll help customers take their learning and talent initiatives – and the people experience at work – to a new level.”

Karl Mehta former CEO of EdCast, will be joining Cornerstone to lead the new EdCast business unit within the company.

“Innovation has always been at the heart of our vision at EdCast, and we’re excited for the opportunity to partner with Cornerstone, bringing our teams together to re-shape the market and add power and scale to our mission,” said Mehta. “The team at Cornerstone recognises the value our EdCasters bring to the table and the importance of customer choice. Together, we are committed to focusing on people growth innovation, with the same platform independence, ecosystem and industry-agnostic approach for which EdCast is known.”

“This acquisition reinforces our growth vision for Cornerstone,” said Prashant Mehrotra, Partner, and Paul Huber, Managing Director, at Clearlake. “By uniting Cornerstone and EdCast, we are following through on our promise to bring innovative software solutions to customers, which in turn, creates more value for their organisations and their employees.”

Powering the Future-Ready Workforce Together

  • With EdCast, Cornerstone customers can deliver a people growth experience that spans learning, skills, careers and mobility, alongside Cornerstone’s entire portfolio of learning management, performance, recruiting and HR management offerings, to ensure unified business rules, efficient management and optimised processes.
  • The company will roadmap a single-user experience for customers across people growth and development, providing tighter data connectivity, deepened skills intelligence, and a single pane of insight and analytics across the entire Cornerstone portfolio.
  • Organisations globally will be able to access an open, platform-agnostic people growth experience with a “connect to anything” approach that allows them to bring their own external LMS, content, performance, recruiting, and HRIS solutions.

“This acquisition gives Cornerstone the combination of a world class LMS with an industry leading Learning Experience Platform.” said Josh Bersin, Global Industry Analyst. “By bringing these two important product categories together, the company gives customers a one-stop solution for end-to-end learning solutions.”

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