As I was writing a post about Blackboard’s key challenges, I get notice from Reuters (anonymous sources, so interpret accordingly) that the company is on the market, seeking up to $3 billion. From Reuters:
Blackboard Inc, a U.S. software company that provides learning tools for high school and university classrooms, is exploring a sale that it hopes could value it at as much as $3 billion, including debt, according to people familiar with the matter.
Blackboard’s majority owner, private equity firm Providence Equity Partners LLC, has hired Deutsche Bank AG and Bank of America Corp to run an auction for the company, the people said this week. [snip]
Providence took Blackboard private in 2011 for $1.64 billion and also assumed $130 million in net debt.
A pioneer in education management software, Blackboard has seen its growth slow in recent years as cheaper and faster software upstarts such as Instructure Inc have tried to encroach on its turf. Since its launch in 2011, Instructure has signed up 1,200 colleges and school districts, according to its website.
This news makes the messaging from BbWorld as well as their ability to execute on strategy, particularly delivering the new Ultra user experience across all product lines – including the core LMS – much more important. I’ll get to that subject in the next post. (more…)


