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.
"Clearlake's investment reflects their confidence in our talented people, the power of our SaaS solutions and our value proposition for our customers,"
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.
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