ANI
15 Sep 2021, 13:25 GMT+10
Bengaluru (Karnataka) [India], September 15 (ANI/BusinessWire India):The combination will create the most comprehensive and modern EdTech ecosystem available on a global scale. The merger is designed to accelerate transformation at education institutions to enhance the learner experience and drive student and institution success.
Blackboard is a leading provider of learning management software, communication tools and student success solutions to 150 million users in more than 80 countries. Its clients include higher education institutions, K-12 schools, governments, and businesses.
Anthology provides higher education enterprise software and solutions around enrollment management, student engagement, alumni fundraising and institutional effectiveness. Anthology serves over 2,000 unique colleges and universities in more than 30 countries.
Anthology's solutions and services are designed to create operational efficiencies, identify opportunities, and empower institutions with distinct products to unite data, experiences and insights across campus.
With the merger of Anthology and Blackboard, the combined company will create the most comprehensive EdTech ecosystem across academic, administrative and student engagement applications. Together, the two companies will strengthen their missions of advancing knowledge and learning and focus their investment in driving the next wave of EdTech innovation.
Jim Milton, Chairman and Chief Executive Officer of Anthology, will serve as Chairman and CEO of the combined company. "Upon the completion of this merger, we will have a data-driven product portfolio that seeks to touch every constituent at the institution and will aim to transform the way education uses technology to engage, connect, teach, learn and drive efficiencies across the institution," Milton said.
"We believe this combination will enhance the solutions and services available to faculty and students, and we are deeply committed to delivering greater value and innovation to our customers and partners. Anthology and Blackboard are fully aligned around a deep focus on learner success, and I am excited to lead the combined company as we embark on this next phase of growth together.""Together, Blackboard and Anthology will lead the next wave of EdTech innovation," said Bill Ballhaus, Chairman, Chief Executive Officer and President of Blackboard.
"We believe that combining our companies will enable us to break down data silos across the institution and surface deeper insights about the learner so that we can deliver unmatched personalized experiences across the full learner lifecycle."The combined entity will be majority owned by Veritas Capital ("Veritas"), a private equity firm that focuses on investments in technology or technology-enabled companies. Leeds Equity Partners ("Leeds"), a private equity firm focused exclusively on partnering with companies in the Knowledge Industries, will hold a minority stake in the company. Veritas and Leeds are currently the majority owners of Anthology. Providence Equity Partners LLC ("Providence"), Blackboard's existing majority owner, will hold a minority stake in the combined company.
The transaction is expected to close by the end of 2021, subject to customary closing conditions and regulatory approvals.
Milbank LLP acted as legal advisor to Anthology and Veritas, and JP Morgan and UBS are providing committed financing to Anthology for the proposed transaction.
Deutsche Bank served as financial advisor to Blackboard, and Weil, Gotshal and Manges LLP acted as legal advisor to Blackboard. Debevoise and Plimpton LLP acted as legal advisor to Providence.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)Get a daily dose of Taiwan Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Taiwan Sun.
More InformationBASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...