Clearlake Capital Completes Acquisition of Cornerstone OnDemand

SANTA MONICA, Calif., Oct. 15, 2021 /PRNewswire/ -- Clearlake Capital Group, L.P. (together with its affiliates "Clearlake") today announced that it has completed its acquisition of Cornerstone OnDemand, Inc. (NASDAQ: CSOD, "Cornerstone OnDemand", or "Cornerstone"), a global leader in talent management software. The acquisition was previously announced on August 5, 2021, and was approved by Cornerstone OnDemand shareholders on October 12, 2021. Under the terms of the agreement, Clearlake has acquired the outstanding shares of Cornerstone common stock for $57.50 per share in cash. As a result of the transaction, Cornerstone is now a privately held company and shares of Cornerstone common stock are no longer listed on the public market.

The acquisition combines Cornerstone's product and industry leadership with Clearlake's proven software investment experience and operational improvement approach, O.P.S.®, to strengthen and accelerate the company's next phase of growth and innovation.