Cloud-based learning and talent management solution provider Cornerstone OnDemand will acquire Grovo Learning Inc. in a $24 million cash deal. The deal is expected to close by the end of 2018, subject to closing adjustments, according to a Cornerstone press release.
Founded in 2010, Grovo provides microlearning solutions to employees. The New York City-based company has delivered more than 2,500 courses on a range of topics to clients such as Gap Inc., Hulu and Wells Fargo. Cornerstone, based in Santa Monica, California, helps companies manage and develop talent, and has 3,400 clients across 192 countries.
This move is seen as a way to further expand education and learning.
“The acquisition of Grovo helps fulfill the vision we had on day one for Cornerstone to improve access to education on a global basis” said Adam Miller, Cornerstone’s founder and CEO, in a statement. “As leaders in learning, we know that Grovo has some of the most innovative training content in the world.”
Cornerstone is also looking to expand its “content anytime” subscription service. The service is a tool that provides organizations a way to give employees fresh, modern content that allows them to control their own career development. Cornerstone plans to incorporate Grovo content into this tool, according to the Cornerstone press release.
“United with our state-of-the-art learning suite and our content anytime subscription offerings, the combination with Grovo places Cornerstone in a league of its own,” Miller said in the statement.
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