Sidley is representing Cornerstone OnDemand Inc., a cloud-based HR software solutions provider backed by Clearlake Capital Group, L.P., in its definitive agreement with Skillsoft to acquire SumTotal, a provider of learning and human capital management software-as-a-service (“SaaS”) for customers in highly regulated and complex industries. The strategic combination will further expand Cornerstone’s capabilities, enhance the reach of employee-centric innovation, and broaden vertical expertise in highly regulated markets. This announcement follows Cornerstone’s recent acquisition of EdCast, which is intended to fuel the company’s strategy to create an open platform for people development, growth, and mobility. The transaction is expected to close in the second half of 2022, subject to regulatory approvals and other customary closing conditions.
The Sidley team is led by Mehdi Khodadad and Scott Williams (M&A and Private Equity), and includes David Meehan, Spencer Lee, Ashley Krause, George Krug, Marina Mehrtens, Takeshi Funaki, Armin Mustafić, Jian Wei Aw, and Valentin Specht (M&A and Private Equity); Karen Kazmerzak, Ken Daly, Laura Collins, Jamie Sadler, and Jakob Dewispelaere (Antitrust/Competition); Nicholas Schwartz, Kristen Smith, and Kaitlin Schock (Global Finance); Eric Kauffman, Teresa Reuter, Peter McCorkell, Timothy Payne, Emily Wajert, and Alex Down (Labor and Employment); Stacy Crosnicker and Gregory Matisoff (Employee Benefits and Executive Compensation); Stephen McInerney and Amisha Gandhi (Privacy and Cybersecurity); Eric Schwartz and Margaret Allen (Litigation); Sven De Knop, Jen Fernandez, Carys Golesworthy, Alessandra Moroni, and Ines Willemyns (International Trade); Scott Goldstein (Insurance); Howard Stanislawski, Leslie Shubert, and Allison L. Dapper (Regulatory); Matthew Clemente and Ian Ferrell (Restructuring); Rachel Kleinberg and Jonathan Westreich (Tax); and Kyle Barnett, Dusan Clark, Paul Kariyawasam, and Collin Marshall (Technology and IP Transactions).
