Clearlake Capital completed the acquisition of Cornerstone OnDemand for $5.2bn.

Clearlake Capital, a private equity firm, completed the acquisition of Cornerstone OnDemand, a provider of talent management software, for $5.2bn. Vector Capital co-invested in the transaction. "Clearlake’s investment reflects their confidence in our talented people, the power of our SaaS solutions and our value proposition for our customers. With this transaction, we plan to continue to pursue new software capabilities that advance our customers’ efforts to optimize workforce agility, transform skill development, deliver personalized, engaging growth experiences, and align their organizations around a shared definition of success. We’re thrilled to welcome Clearlake as a partner that appreciates the impact our SaaS solutions have on the lives of people at work and our customer-centric philosophy as we accelerate our innovation," Phil Saunders, Cornerstone CEO.