Cornerstone OnDemand CSOD shares are trading higher after the company announced it will be acquired by Clearlake Capital for $57.50 per share in cash. The transaction will have an enterprise value of approximately $5.2 billion.
The company on Thursday also reported better-than-expected Q2 results, beating analyst consensus estimates for both sales and EPS.
Cornerstone OnDemand, Inc., together with its subsidiaries, provides learning and people development solutions as software-as-a-service worldwide.
At the time of publication, Cornerstone OnDemand shares were trading higher by 13.5% at $56.65.
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