Cornerstone OnDemand, an industry leader in the HCM software space, announced today it has entered into a definitive agreement to acquire EdCast, a learning experience platform software provider.
Brandon Hall Group has studied this space extensively and we believe that the acquisition will significantly enhance Cornerstone’s presence in the learning and talent software market. The need for integrated learning and talent software-as-a-service (SaaS) solutions is extremely important to the transformation of the learner experience and talent development.
Cornerstone and EdCast will provide their clients with learning and talent technology opportunities to create a more powerful learning experience that will unlock the full potential of employees. The foundation to this approach is potent content development and delivery targeting skills development through a unified technological platform designed to support learning in a performance-driven environment for employees.
Brandon Hall Group agrees that the learning and talent technology landscape is fragmented. Technology decisions for organizations are becoming daunting. This new partnership will open the door for organizations to decide on a single-source provider for learning and talent technology. The Cornerstone and EdCast combination is a look into the future of next-generation learning and talent technology. The partnership will instantly show learners how to get connected to their learning to drive their personal and professional growth experiences, and provides a streamlined approach for organizations to provide personalized learning and talent development at scale.
Both organizations are industry leaders in the learning and talent software solutions space. They are well known for their creativity and innovative approaches to delivering personalized learning and supporting talent development in the most complex environments. EdCast’s platform brings to the table an enhanced approach to skills-based learning powered by artificial intelligence. Cornerstone brings an adaptable, scalable and highly flexible technological infrastructure that can be leveraged by an organization irrespective of size or vertical.
The combination of the two companies transforms both customers bases and opens new opportunities to drive breakthrough results in developing their employees and scaling their organizations.
This is just another example of Cornerstone continuing its efforts to drive the reshaping of the learning and talent technology market. The acquisition of EdCast is an underscoring of the growth strategy of Cornerstone to be a market-leading SaaS platform provider.
Cornerstone has a hybrid growth strategy combining organic growth and a new number of key acquisitions. A highlight of organic growth was its announcement of Cornerstone Xplor, a ground-breaking technological innovation to combine learning with skills-based assessments.
Xplor and the acquisition of EdCast illustrate Cornerstone’s well-balanced growth strategy and its main goal of ensuring its customers have access to world-class technology quickly and efficiently.
There clearly will be great synergies for the respective client bases of each company. For clients that are only using one of the companies, the opportunities to supercharge their approach to learning and talent development will be immediate and impactful. Organizations facing decision-making challenges around acquiring separate technologies and then knitting them together, especially in the LMS/PXP arena, now have a new and exciting choice.
Cornerstone now more than ever can address the needs of organizations to integrate skills development with learning progression. The technological stacking of EdCast and CSOD sets a new bar in the technology market space for this all-important organizational need.
We have seen a wide spectrum of acquisitions take place in the HCM space over the years. Many would argue that more than a few acquisitions did not live up to their expectations or the jury is still out. Acquisitions are challenging for a number of reasons, particularly for clients of the respective companies. This acquisition is the exception. There is a clear and understandable valuable proposition for current and future Cornerstone clients with the addition of EdCast. The value proposition goes beyond the obvious technological prowess that the acquisition brings. These two companies have extraordinary histories in the space and clearly have demonstrated an unbridled commitment to their clients and the technology landscape.
We are optimistic and enthusiastic about the acquisition and we see great possibilities for the future advancement of learning and talent within any organization that leverages this new and exciting relationship.