{"id":119419,"date":"2021-08-05T21:10:22","date_gmt":"2021-08-05T21:10:22","guid":{"rendered":"https:\/\/fin2me.com\/?p=119419"},"modified":"2021-08-05T21:10:22","modified_gmt":"2021-08-05T21:10:22","slug":"clearlake-capital-to-take-cornerstone-ondemand-private-for-3-8-billion","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/clearlake-capital-to-take-cornerstone-ondemand-private-for-3-8-billion\/","title":{"rendered":"Clearlake Capital to take Cornerstone OnDemand private for $3.8 billion"},"content":{"rendered":"<p>(Reuters) -Cornerstone OnDemand Inc said on Thursday private equity firm Clearlake Capital Group LP would take the cloud computing and management software provider private for about $3.8 billion.<\/p>\n<p>Cornerstone shareholders will get $57.50 per share in cash, a premium of over 15% to the stock\u2019s last close.<\/p>\n<p>Cloud companies have seen a surge in demand since last year as more businesses use their services to meet demands of the switch to pandemic-induced work from home.<\/p>\n<p>Cornerstone, which helps companies to recruit, train, and manage their employees, counts Walgreens and Starwood Hotels &amp; Resorts as its customers.<\/p>\n<p>The deal, which is expected to close in the second half of this year, has an enterprise value of about $5.2 billion.<\/p>\n<p>Qatalyst Partners and Centerview Partners LLC served as financial advisers to Cornerstone, while Morgan Stanley, Rothschild &amp; Co, J.P. Morgan, Goldman Sachs, BofA Securities, Barclays, Jefferies and William Blair advised Clearlake.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/cornerstone-ondemand-ma-clearlake-capita\/update-1-clearlake-capital-to-take-cornerstone-ondemand-private-for-3-8-bln-idUSL4N2PC3Y6\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Cornerstone OnDemand Inc said on Thursday private equity firm Clearlake Capital Group LP would take the cloud computing and management software provider private for [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Clearlake Capital to take Cornerstone OnDemand private for $3.8 billion - 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