A Dream Come True?

Release Date: Thursday, October 20th 2011

A major corporate acquisition occurred in our backyard. Providence Equity Partners sealed its purchase of Blackboard, Inc. (650 Massachusetts Avenue), a leading provider of education and learning software, in an all-cash deal valued at about $1.64 billion in enterprise value (which includes debt in its value calculation) and assumed liabilities worth about $136 million. Blackboard, formerly traded on the NASDAQ Stock Market, is now a privately-held entity. The company moved its headquarters to Downtown DC from the Golden Triangle in 2008 and will remain here. It first sought potential strategic and financial buyers in March. Rhode Island-based Providence is a leading, global private equity firm specializing in media, entertainment, communications and information services investments.