By Dian Schaffhauser 10/05/11 A day after its acquisition of Blackboard was completed, Providence Equity Partners has begun leveraging its multiple investments in education technology. Two of its companies–Blackboard and Edline–have announced an immediate merging. Edline will become another division in Blackboard’s portfolio. Both companies sell learning management and mass notification products to the K-12 …
Like Edline, Blackboard can also be used by parents to keep track of what’s going on in the school and the classroom. Depending on how well teachers embrace the technology, Blackboard and Edline can do a lot more than help parents keep track of whether their kids are turning in homework.
Blackboard is expected to be merged with Edline LLC, another educational software firm. Providence purchased Edline in 2009.
Standard & Poor’s cut its corporate credit rating on Blackboard, to B+ from BB-, after the acquisition was announced.
Reactions about the Blackboard acquisition from students and recent graduates at the Gilfus Education Group’s Education Research Center at George Mason University were mostly positive. Lauren Heimburg, a recent graduate with bachelor’s degrees in both mathematics and psychology from the University of Virginia provided the following insights: “I think Blackboard’s acquisition will cause UVA to intensify its focus on online learning initiatives in order to remain competitive in coming years. Enterprise Education Platforms can improve colleges and universities by enabling them to provide more efficient systems and facilities to their students and faculty and by simplifying their internal operations.”
Blackboard Inc. (BBBB), a maker of online educational courseware, may lure buyout offers of as much as $65 a share from strategic bidders seeking to expand in Internet publishing, analysts at Stifel Nicolas said in a report today. Education publishers News Corp. (NWSA), Pearson Plc (PSON) and McGraw- Hill Cos. may consider making offers for …