Clearlake Capital Group’s $5.2 Billion Acquisition of Cornerstone OnDemand

Cooley advised Cornerstone OnDemand on the deal.

Cornerstone OnDemand, a publicly traded global leader in talent management software, announced its agreement to sell to private equity firm Clearlake Capital Group.

Under the terms of the agreement, Clearlake will acquire the outstanding shares of Cornerstone common stock. Upon completion, Cornerstone will become a private company with the flexibility and resources to continue providing market-leading talent management SaaS solutions. Additionally, the transaction will provide Cornerstone with Clearlake’s operating capabilities, capital support and deep sector expertise, as well as its strong track record with software platform investments. The deal is expected to close in the second half of 2021.

Cornerstone powers the future-ready workforce, with HR software and solutions designed to unite people, teams, technology and business, and inspire a work environment of growth, agility and success for all. The company serves more than 6,000 customers and 75 million users in 180 countries and 50 languages.

Lawyers Jamie Leigh (Picture), Ben Beerle, Rachel Proffitt and Matt Silverman led the Cooley team. Additional assistance was provided by James Rosenthal, Natalie Vernon, Jacob B. Hanna, Julia Gage, Scott Lin, Kevin Rivers, Zach Sonenshine, Tracy Rubin, Matt Kong, Rowook Park, Barbara Mirza, Mischi A Marca, Nicollette Moser, Megan Browdie, Howard Morse, Sarah Lightdale, Kristopher Kleiner, Anthony Hajj, Kristin Marshall, Ross Eberly, David Silverman, Brent Nesbitt, Todd Gluth, Megan Sacher, Matteo Negro, Rachel Katz, Eileen Leman, Stella Sarma, Christine Graham, Kevin King, Caitlin Breitenbruck, Christopher Kimball, Jeff Lombard, Alexander Israel, Jason Savich, Allison Kutner, Andrew Epstein and David Navetta.

Involved fees earner: Ben Beerle – Cooley LLP; Caitlin Breitenbruck – Cooley LLP; Megan Browdie – Cooley LLP; Ross Eberly – Cooley LLP; Andrew Epstein – Cooley LLP; Julia Gage – Cooley LLP; Todd Gluth – Cooley LLP; Christine Graham – Cooley LLP; Anthony Hajj – Cooley LLP; Jacob Hanna – Cooley LLP; Alexander Israel – Cooley LLP; Rachel Katz – Cooley LLP; Christopher Kimball – Cooley LLP; Kevin King – Cooley LLP; Kristopher Kleiner – Cooley LLP; Matt Kong – Cooley LLP; Allison Kutner – Cooley LLP; Jamie Leigh – Cooley LLP; Eileen Leman – Cooley LLP; Sarah Lightdale – Cooley LLP; Scott Lin – Cooley LLP; Jeff Lombard – Cooley LLP; Gian-Michele Marca – Cooley LLP; Kristin Marshall – Cooley LLP; Barbara Mirza – Cooley LLP; Howard Morse – Cooley LLP; Nicollette Moser – Cooley LLP; David Navetta – Cooley LLP; Matteo Negro – Cooley LLP; Brent Nesbitt – Cooley LLP; Rowook Park – Cooley LLP; Rachel Proffitt – Cooley LLP; Kevin Rivers – Cooley LLP; James Rosenthal – Cooley LLP; Tracy Rubin – Cooley LLP; Megan Sacher – Cooley LLP; Stella Sarma – Cooley LLP; Jason Savich – Cooley LLP; Matthew Silverman – Cooley LLP; David Silverman – Cooley LLP; Zachary Sonenshine – Cooley LLP; Natalie Vernon – Cooley LLP;

Law Firms: Cooley LLP;

Clients: Cornerstone OnDemand, Inc.;

Martina Bellini

Author: Martina Bellini