Vector Capital Completes Sale of Saba Software to Cornerstone OnDemand
Cornerstone OnDemand, Inc. (CSOD)
Last cornerstone ondemand, inc. earnings: 2/24 04:03 pm
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Source: Business Wire
SAN FRANCISCO--(BUSINESS WIRE)--Vector Capital, a leading private equity firm specializing in transformational investments in established technology businesses, today announced the successful sale of Saba Software, a leading provider of cloud-based talent management software, to Cornerstone OnDemand, Inc., (Nasdaq: CSOD) for approximately $1.295 billion.Founded in 1997 as a pioneer in learning management software, Saba Software enables human resources departments to effectively manage all aspects of acquiring, developing, and retaining their talent through a single cloud-based software. Saba’s HR suite covers the entire lifecycle of an employee from recruiting, training, reviews, performance management, and succession planning.Vector Capital initially invested in the already-delisted Saba through its Credit Strategy in 2013, which culminated in a take private in 2015 as the company faced SEC-imposed deregistration. Since acquiring Saba, Vector Capital worked closely with Saba’s ma
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