Cornerstone OnDemand has acquired EdCast, a learning experience platform software provider. The deal is the next step in Cornerstone’s strategy of transforming the learning software market.
Together, Cornerstone and EdCast aim to accelerate value for customers with innovation in experiential learning, content and skill-building, and a unified and scalable talent infrastructure designed to transform learning for people and business.
The acquisition of EdCast is the first planned transaction by Cornerstone since becoming a private company and part of the Clearlake Capital portfolio. Exact terms of the transaction were not disclosed.
EdCast is a provider of learning experience platform (LXP) software solutions, known for its expertise and innovation in delivering personalized and contextual learning to its users. EdCast’s platform is powered by a skills engine and content marketplace via an AI-powered knowledge cloud. The company’s customers range from G2000 companies to small businesses to government organizations.
Himanshu Palsule, CEO of Cornerstone said: “Today’s fragmented HR technology landscape is ripe for reinvention as organizations seek new ways to unify people and business in areas most critical to growth – workforce engagement, talent retention, skills transformation and career mobility.”
“Cornerstone and EdCast have the potential to deliver a next-generation learning and talent infrastructure, rapidly innovate a connected people growth experience and create a new blueprint for the way organizations and their people grow and thrive, together.”
Karl Mehta, CEO of EdCast said: “The combination of Cornerstone and EdCast is poised to accelerate the pace of innovation in the market. Together we will transform the way our customers develop the skills of the future, retain and grow their people, improve agility and unify and scale learning and talent infrastructure in lockstep with business needs.”