Deals
Cornerstone OnDemand Said to Mull Sale Under Activist Pressure
- Praesidium said to be pushing company to run formal process
- Some of Cornerstone’s cloud-computing peers have already sold
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Cornerstone OnDemand Inc. has received approaches from potential buyers as shareholders including Praesidium Investment Management push the company to run a formal process, people with knowledge of the matter said.
Cornerstone, based in Santa Monica, California, hasn’t yet hired a bank to actively pursue a sale, said the people, who asked not to be identified because the information is private. Still, it’s having conversations with potential buyers, the people said.