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It's a Deal! Blackboard Acquired

BANGALORE (Reuters) - Education software company Blackboard Inc (BBBB.O) said it would be bought by private equity firm Providence Equity Partners for $1.64 billion in cash.

On Thursday, Reuters reported that the two parties were nearing a deal.

The $45 a share offer is at about a 4 percent premium to Blackboard's Thursday close of $43.39.

Providence will also assume about $130 million of Blackboard's debt.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Gopakumar Warrier) Reuters  Article

Link to PRNewswire article>

Vicki T. Tambellini

The Tambellini Group, LLC

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Blackboard Acquisition Likely to be Announced Tomorrow

According to Reuters, a deal is likely to be announced tomorrow.  Sources close to the company report that debt financing is being provided by Bank of America Merrill Lynch, Morgan Stanley and Deutsche Bank. 

While it seems certain that Blackboard will be acquired by Providence Equity Partners, the implications for customers are not as clear.

Providence Equity Partners is an investor in a number of high technology firms providing solutions to the education market.  An acquisition by Providence Equity Partners could implicate a change in direction for several key administration solution providers including SunGard Higher Education and others.

We'll keep you posted!


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Anupreeta Das of WSJ reports SunGard Investor is in "exclusive talks" to buy Blackboard

According to a story published just minutes ago, all but Providence Equity Partners have dropped out of negotiations with Blackboard.

In part, the article reads, "Buyout firm Providence Equity Partners is in exclusive talks to buy educational software company Blackboard."

The firm, Providence Equity Partners, holds a stake in SunGard, Hulu and others.  Providence Equity Partners is part of the group of investors that purchased SunGard in 2005. 

As a result of a number of confidentiality agreements, I am unable to comment or provide any opinion on this matter.  Sorry members!  I can only publish what's public information.

 

Vicki Tambellini

The Tambellini Group

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Bloomberg Reports that Providence Equity Partners Inc. is in the lead to buy Blackboard

Speculation continues as writers Serena Saitto and Cristina Alesci publish a report stating that "Providence Equity Partners Inc. is in the lead to buy Blackboard Inc., a maker of online educational courseware, according to a person with knowledge of the situation.

The writers continue with information regarding other potential bids.  The company is not commenting.

As one of our readers pointed out earlier today, Providence Equity Partners, Inc. participated in the LBO of SunGard in 2005. 

Vicki Tambellini

The Tambellini Group

www.thetambellinigroup.com