Cornerstone OnDemand, a cloud-based software provider for businesses, has acquired big data platform Evolv Inc. for $43 million in an all-cash deal.
Headquartered in San Francisco, Evolv uses internal and external data to help companies evaluate skills, work experiences and personalities of employees and job candidates. Cornerstone said the acquisition will expand its big data analytics to help employers make better informed decisions and improve workforce performance. The Santa Monica firm said its online talent management suite has more than 15 million users in 191 countries.
“Evolv has built a reputation as a leader in big data analytics, and together we have a huge opportunity to deliver even more value to organizations leveraging our solutions,” said Adam Miller, Cornerstone’s president and chief executive, in a statement.
The deal is expected to close within 30 days.
Shares of Cornerstone closed at $32.91 on Tuesday, down $1.29 or nearly 4 percent, on the Nasdaq.