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Anthology to acquire Blackboard, creating huge non-public fairness-owned employer spanning ed tech markets

 Anthology to acquire Blackboard, creating huge non-public fairness-owned employer spanning ed tech markets

Anthology, a exceptionally new higher training software program and offerings organisation, is obtaining Blackboard, lengthy one of the most distinguished corporations within the academic generation area.

Executives accept as true with the deal, which was announced Monday and is predicted to shut by means of the give up of the year, will allow the mixed enterprise to offer a much broader variety of software program and offerings than its competitors.

the two groups didn’t share the monetary terms of the deal, which they introduced as a merger however is correctly established as an acquisition. Anthology’s chief government will become CEO of the mixed organisation, and Blackboard’s CEO will leave once the deal closes. one in every of Anthology’s current owners, non-public equity company Veritas Capital, will hold majority possession after last, although Blackboard’s majority proprietor, providence equity companions LLC, may have a minority stake within the combined business enterprise.

Anthology affords services around enrollment management, scholar engagement, fundraising and institutional effectiveness. Blackboard sells merchandise such as getting to know management software program, student achievement offerings and communique tools to higher education establishments, ok-12 faculties, groups and governments.

both organizations have been energetic within the merger and acquisition space for quite some time. Anthology, based totally in Boca Raton, Florida, became created closing yr when  private fairness firms combined 3 ed tech agencies: Campus management, Campus Labs and iModules. 

And rumors have lengthy swirled that Reston, Virginia-based Blackboard changed into up on the market. Reuters stated in 2015 that the employer turned into looking for a transaction valuing it at as much as $three billion. Blackboard went on to promote its Blackboard Open LMS business in March 2020. It has also been shedding clients in recent years to LMS competitors Canvas and D2L Brightspace, in step with an analysis through Phil Hill, companion at ed tech consulting company MindWires.

the purchase introduced Monday is a higher ed-centered deal that fits with an Anthology intention of constructing a extensive-ranging slate of services for schools, in line with those who display and make investments inside the ed tech area.

Anthology already had merchandise inside the student facts structures, employer useful resource planning and client relationship control markets, consistent with Troy Williams, handling director at gain companions, a non-public equity firm targeted on the future of schooling and work. meaning it operated in 3 of 4 center software program areas. but Anthology had a hole within the LMS area.

“by obtaining Blackboard, they fill the last foremost piece,” Williams stated in an electronic mail. Now the organisation can sell its newly received Blackboard products to its existing customers, Williams said. 

leader executives at the two companies harassed that match in an interview Monday.

“we've actually no overlap among the answers we bring to market,” said Anthology’s CEO, Jim Milton.

The blended agency will stand other than other ed tech carriers because it can be able to offer a wider variety of products and services, stated Blackboard’s CEO, bill Ballhaus. With many other ed tech providers being single-product or niche corporations, ”‘all the above’ is a totally centered strategy,” for the mixed organisation, he stated.

Executives haven’t decided what branding the blended entity will use. the ones info can be labored out at some stage in a quickly-to-start integration process.

collectively, the two businesses have more than four,000 specific clients in over eighty international locations round the world, with greater than three,000 in North the usa, Milton stated. They appoint about four,000 people. 

Leeds equity partners, every other non-public equity firm that’s a majority proprietor of Anthology, will keep a minority stake within the combined company, as well. The transaction is concern to remaining conditions and regulatory approvals.