Cornerstone OnDemand (CSOD) Reports Acquisition of Grovo
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Cornerstone OnDemand (NASDAQ: CSOD), a global leader in cloud-based learning and human capital management software, today announced that the Company signed a definitive agreement to acquire Grovo Learning, Inc., the leading provider of micro-learning content, for $24 million in an all-cash deal, subject to certain closing adjustments. The acquisition of Grovo is expected to close in the fourth quarter of 2018.
Founded in 2010, Grovo has produced over 2,500 micro-learning courses across a range of topics. Grovo has over 300 clients, including Gap Inc., Hulu, Chevron and Wells Fargo, with offices in New York City and San Francisco.
“The acquisition of Grovo helps fulfill the vision we had on day one for Cornerstone to improve access to education on a global basis. As leaders in learning, we know that Grovo has some of the most innovative training content in the world,” said Adam Miller, Cornerstone’s founder and CEO. “United with our state-of-the-art Learning suite and our Content Anytime subscription offerings, the combination with Grovo places Cornerstone in a league of its own.”
In conjunction with this acquisition, Cornerstone also announced an expansion of its Content Anytime subscription offerings. Content Anytime is a content subscription service that enables organizations to provide their employees with fresh, modern content that puts them in control of their own career development. The subscriptions support all types of modern learning formats, from micro-learning (shorter, easily consumable courses) to macro-learning (deeper mastery of a subject or skill) to spaced-learning (courses broken into sections, with timed intervals for questioning in between). Cornerstone continually adds and refreshes course content by combining insights from nearly 20 years of learning and development expertise and the most in-demand, user-driven content recommendations informed by usage data and feedback from Cornerstone’s massive community.
Starting today, Cornerstone will offer a range of subscriptions beyond its popular Content Anytime Essentials offering, including thematic subscriptions for compliance and digital transformation, as well as regional subscriptions for France, Germany and Spain. Cornerstone expects to incorporate Grovo content across its Content Anytime subscription service.
Cornerstone will discuss the acquisition of Granite on its third quarter 2018 earnings conference call scheduled for today.
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Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesHulu, Earnings, Wells Fargo, Definitive Agreement
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