Monday, April 9, 2012

Cornerstone OnDemand Completes Sonar Limited Buy

Santa Monica-based Cornerstone OnDemand, the developer of cloud-based, talent and HR management software headed by Adam Miller, said Monday afternoon that it has completed its acquisition of Sonar Limited (Sonar6). The deal had been announced originally on March 8th. Cornerstone OnDemand had earlier announced that the deal was worth $13M in cash plus $1M in equity. Sonar6 was a New Zealand-based developer of talent management software for the small business market. Cornerstone OnDemand said it will continue to operate Sonar6 out of Auckland, New Zealand, with the firm's offerings being rebranded as a Cornerstone product for small businesses.

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