Cornerstone to Buy Saba in a Deal Valued at $1.395 Billion
Summary
Cornerstone OnDemand, Inc. (NASDAQ:CSOD), a Santa Monica, CA-based provider of people development solutions, is to acquire Saba, a provider of talent experience solutions and a portfolio company of Vector Capital. The combined company will have more than 75 million users and serve approximately 7,000 organizations, of all sizes, around the globe. Led by Phil Saunders, CEO, Saba provides a cloud-based talent platform which combines science with intelligent personalization to deliver a personalized talent experience for every individual, while delivering actionable insight. Led by Adam Miller, CEO and founder, Cornerstone is a people development company which offers organizations comprehensive recruiting, personalized learning, modern content solutions delivered in the flow of work, development-driven performance management and holistic workforce data management and insights. Its people development solutions are used by more than 3,600 global clients of all sizes, spanning more than 40 million users across 187 countries and 43 languages.
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