Cornerstone OnDemand will be infusing some more data-driven techniques into its Software-as-a-Service portfolio soon with the newly-announced acquisition of Evolv.
Founded in 2007 in San Francisco, the big data company produced a machine learning platform that extracts existing data from installed systems for the purpose of turning that information around into analytics and insights for measurable return-on-investments.
On its website, Evolv boasted more than 495 million data points already stored within its network.
The size of its customer base wasn't revealed, but Evolv noted it serves 20 of the Fortune 100 while also reaching 18 industries across 13 countries, producing more than 121 million performance records.
Cornerstone, meanwhile, said it retains over 15 million users in 191 countries.
Cornerstone plans to use that technology for its talent management SaaS suite, making these tools available to search and analyze datasets derived from more than 1,800 corporate clients worldwide over the last decade.
More specifically, Cornerstone is keen on driving predictive analytics potential for workforce data concerning key talent, organizational and collaboration services.
To get there, Evolv's resources are going to be especially integrated with the Cornerstone View, Cornerstone Insights, Cornerstone Selection and Cornerstone Recommendations products.
But first, Cornerstone has committed to paying approximately $42.5 million in cash for Evolv, with the stipulation that "certain Evolv employees" will be granted with up to 200,000 shares of Cornerstone stock. Cornerstone will also assume up to $2.0 million of Evolv's debt.
The deal is expected to close within a month.
Last week, the Santa Monica, Calif.-based companyThe latest Cornerstone Mobile application upgrade was tailored with HR in mind, stocking up with recruiting functions, document accessibility tools, training portals and verifiable task checklists.