Monday, February 24, 2020

Cornerstone OnDemand Acquires Saba For $1.395 Billion

Santa Monica-based Cornerstone OnDemand has acquired fellow talent and human resources management software developer Saba, in a deal worth approximately $1.395 billion, the company said on Monday. Cornerstone OnDemand said that Saba, which has approximately 3,300 clients, has a complementary product portfolio to the company. The firm is paying a combination of cash and stock for Saba, and expects the deal to be complete in the second quarter of 2020. Both Cornerstone OnDemand and Saba develop software used for managing everything from recruiting, training, compliance, employee development, and other related areas.