Blackboard Completes Acquisition of ANGEL Learning, Inc.
WASHINGTON, May 11 /PRNewswire-FirstCall/ -- Blackboard Inc. (Nasdaq:
BBBB), a global leader in education technology today announced the completion
of its acquisition of ANGEL Learning, Inc., a leading developer of e-learning
software to the U.S. education industry. As previously announced, Blackboard
is acquiring ANGEL for approximately $95 million, net of cash acquired and
excluding transaction costs.
The acquisition combines ANGEL's record of innovation and client service
with Blackboard's own innovation, financial strength and industry leadership
to create a stronger, more flexible supporter of teaching, learning and
student engagement. The combined company aims to accelerate the pace of
innovation and interoperability in e-learning, and will continue to invest in
solutions to more effectively support teachers and learners. The acquisition
will also enable Blackboard to incorporate ANGEL's client-first culture that
has translated into consistently excellent experiences and high retention of
ANGEL Learning clients.
A Combined Focus on Teaching and Learning
Blackboard's acquisition of ANGEL Learning will introduce a range of
benefits to institutions and the e-learning community, including:
-- A combined global community of practice of more than 5,800 K-12
schools, colleges and universities, government organizations and
-- A broader, unified platform for the general media, publishers and
e-learning software developers that increases interoperability for
-- A world-class service and support organization benefiting from
best-practices and infrastructure investments
-- Industry leading e-learning technology expertise including
specialization on Microsoft's .NET platform and Microsoft technologies
-- A stronger company with a greater capacity to invest in research and
development for new solutions over time
About Blackboard Inc.
Blackboard Inc. (Nasdaq: BBBB) is a global leader in enterprise technology
and innovative solutions that improve the experience of millions of students
and learners around the world every day. Blackboard's solutions allow
thousands of higher education, K-12, professional, corporate, and government
organizations to extend teaching and learning online, facilitate campus
commerce and security, and communicate more effectively with their
communities. Founded in 1997, Blackboard is headquartered in Washington, D.C.,
with offices in North America, Europe, Asia and Australia.
Any statements in this press release about future expectations, plans and
prospects for Blackboard and other statements containing the words "believes,"
"anticipates," "plans," "expects," "will," and similar expressions, constitute
forward-looking statements within the meaning of The Private Securities
Litigation Reform Act of 1995. These forward looking statements include
statements about our acquisition of ANGEL Learning, Inc. Actual results may
differ materially from those indicated by such forward-looking statements as a
result of various important factors, including the factors discussed in the
"Risk Factors" section of our Form 10-Q filed on May 7, 2009 with the SEC. In
addition, the forward-looking statements included in this press release
represent the Company's views as of May 11, 2009. The Company anticipates that
subsequent events and developments will cause the Company's views to change.
However, while the Company may elect to update these forward-looking
statements at some point in the future, the Company specifically disclaims any
obligation to do so. These forward-looking statements should not be relied
upon as representing the Company's views as of any date subsequent to May 11,
SOURCE Blackboard Inc.
CONTACT: For Financial Media and Investors, Michael J. Stanton, Senior
Vice President, Investor Relations, 1-202-463-4860 ext. 2305,
Education & General Media, Matthew Maurer, Director, Public Relations,
1-202-463-4860 ext. 2637,
both of Blackboard
Web Site: http://www.blackboard.com