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!