April 2012 — By
Harbor View Advisors is pleased to announce that Cornerstone OnDemand (NASDAQ: CSOD) has completed its acquisition of Sonar Limited (“Sonar6”).
Harbor View Advisors served as exclusive financial advisor to Sonar6 in the transaction, which was completed on April 2, 2012.
Based in Auckland, New Zealand, Sonar6 is a leading provider of cloud-based talent management solutions serving small businesses globally. The acquisition combines two of the talent management industry’s most innovative providers and allows Cornerstone to strengthen its ability to serve clients of all sizes. Additionally, Cornerstone expects that the acquisition will accelerate the company’s momentum in the small business (SMB) market.
Sonar6 is renowned in the talent management industry for its distinct ability to engage employees with its highly interactive technology. Like Cornerstone, Sonar6 offers a completely organic, cloud-based solution. Sonar6’s innovative, graphical approach to talent management has won numerous accolades, including Gartner’s “Cool Vendors” and HR Executive magazine’s list of “Top Ten HR Products.”
“Cornerstone OnDemand and Sonar6 share a vision for empowering employees and creating an engaged workforce,” said Michael Carden, Co-Founder and CEO of Sonar6. “We are extremely excited about joining the Cornerstone team.”
Harbor View Advisors provides M&A advisory, turnkey corporate development and strategic consulting to software and technology-enabled business services companies. Our unique approach combines the strategic thinking of a consulting firm with the execution experience of an investment bank to provide clients with the full spectrum of guidance they need to achieve their goals. Whether you are seeking a path to liquidity for your business or are looking to strengthen your corporate development program, we work with your leadership team to solve your toughest challenges.
