Blackboard Inc. acquires WebCT, Inc. for $154 million.Blackboard, Inc. (Washington, D.C.) has entered into a definitive agreement to acquire WebCT (Lynnfield, MA) for $180 million in cash, which values the offer at $154 million, net of WebCT's cash balance of $26 million. The ultimate value of the offer will vary depending on WebCT's cash balance at closing. Blackboard was represented in the deal by Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. (Boston, MA), while WebCT was represented by Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. & Co. (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ). WebCT provides e-learning systems for thousands of colleges and universities in more than 70 countries. Its products and services are designed to support a range of stages of implementation, institutional strategies, user experience levels and pedagogical ped·a·gog·ic also ped·a·gog·i·cal adj. 1. Of, relating to, or characteristic of pedagogy. 2. Characterized by pedantic formality: a haughty, pedagogic manner. and learning styles. It offers course development services for instructors, user guides and best practices for administrators and online course access for students. The company also provides on-campus and online workshops, training materials, hosting services and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . Blackboard provides enterprise software and services to the education industry. Its products consist of five software applications bundled into two suites, the Blackboard Academic Suite and the Blackboard Commerce Suite. Clients include primary and secondary schools, corporation and government markets, textbook publishers and student-focused vendors. The merged company will have 3700 higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. , K-12, corporate, government and commercial academic institution clients. |
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