There has been a lot of speculation about whether Blackboard will be acquired, and recently all the talk is based on Providence Equity Partners being the only suitor remaining. We have been telling our customers for some time that the LMS market is going to change significantly, and I believe the Blackboard acquisition or non-acquisition will be a catalyst for future change – this deal matters to customers whether you are on Blackboard or not.
Most speculation lately has been fueled by a WSJ report that a deal was near (expected by today).
Well, this deal might not happen based on today’s updates from Kayla Tausche at CNBC. In a Twitter exchange, including input from Hank Greenberg (read from bottom up), the Providence exclusivity ends tomorrow and pricing seems to be the stumbling block. I’ll have more of my thoughts on this in upcoming posts.
Update: Reuters is reporting that a deal is imminent, could be announced as soon as Friday morning. Hold on to your hats, we’re not sure if CNBC or Reuters has better information.
(Reuters) – Private equity firm Providence Equity Partners is nearing a deal to buy education software company Blackboard Inc (BBBB.O), with the two sides finalizing terms on Thursday evening, said three sources close to the situation.