M&A Deal Summary

Cornerstone Acquires SumTotal Systems

On June 13, 2022, Cornerstone acquired software company SumTotal Systems from Skillsoft

Acquisition Highlights
  • This is Cornerstone’s 3rd transaction in the Software sector.
  • This is Cornerstone’s 5th transaction in the United States.
  • This is Cornerstone’s 1st transaction in Florida.

M&A Deal Summary
Date 2022-06-13
Target SumTotal Systems
Sector Software
Buyer(s) Cornerstone
Sellers(s) Skillsoft
Deal Type Divestiture

Target

SumTotal Systems

Gainesville, Florida, United States
SumTotal Systems is the HR software solution provider to deliver more than Human Capital Management with Talent Expansion, a whole new approach to discovering, developing, and unleashing the hidden potential within our customers' workforce. SumTotal Systems was founded in 1985 and is based in Gainesville, Florida.

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Buyer(S) 1

Buyer

Cornerstone

Santa Monica, California, United States
Category Company
Founded 1999
Sector Internet Software and Services
Employees2,900
Revenue 741M USD (2020)
DESCRIPTION

Cornerstone is a provider of cloud based comprehensive learning and talent management software solutions. Cornerstone was formed in 1999 and is based in Santa Monica, California.

DEAL STATS #
Overall 6 of 6
Sector (Software) 3 of 3
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 5 of 5
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-17 EdCast

Mountain View, California, United States

EdCast is a provider of LXP software solutions, known for its expertise and innovation in aggregating, curating, targeting, and delivering personalized and contextual learning to users. EdCast was founded in 2014 and is based in Mountain View, California.

Buy -

Seller(S) 1

SELLER

Skillsoft

Nashua, New Hampshire, United States
Category Company
Founded 1998
Sector Internet Software and Services
DESCRIPTION

Skillsoft provides cloud-based learning solutions for its customers worldwide, ranging from global enterprises, government, and education to mid-sized and small businesses. Skillsoft's customer support teams draw on a wealth of in-house experience and a comprehensive learning e-library to develop off-the-shelf and custom learning programs tailored to cost-effectively meet customer needs. Skillsoft was formed in 1998 and is based in Nashua, New Hampshire.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-22 Codecademy

New York, New York, United States

Codecademy is a learning platform providing technical skills to approximately 40 million registered learners in nearly every country worldwide. The platform offers interactive, self-paced courses and hands-on learning in 14 programming languages across multiple domains such as application development, data science, cloud and cybersecurity. In addition, the Codecademy platform can rapidly expand to deliver new skills at scale, making it highly adaptable to the evolving technical needs of learners and their employers.

Buy $525M
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