Cornerstone OnDemand today announced that it has entered into a definitive agreement with Skillsoft, to acquire SumTotal, a provider of learning and human capital management software-as-a-service for customers in highly regulated and complex industries.
Commenting on the announcement, Himanshu Palsule, CEO of Cornerstone said, “SumTotal and Cornerstone share a passion for people growth and development. The additional depth of expertise from SumTotal, particularly in high-consequence vertical markets, is an ideal complement to Cornerstone.”
He further added that with Cornerstone’s broad portfolio and agnostic approach to innovation the company expects to offer SumTotal customers even more options for extensibility and growth. “Together, we will continue our mission in helping organizations and their people to develop future-proof skills, flexibly grow their careers, and achieve shared success,” he said.
According to the official statement, Cornerstone will continue to innovate its products, technologies, and services with an unwavering commitment to customer success, and the most flexible options to support the skills transformation, people experience and talent management priorities of an expanded global customer base.
The combined company will be positioned to deliver a differentiated, expanded portfolio of learning, talent, and people growth solutions with broader vertical expertise, greater financial resources, and a shared vision for the future of work.