Press Release

Morgan Lewis Advises Blackboard Senior Management on $1.64 Billion Acquisition of Company by Providence Equity Partners

July 05, 2011

PHILADELPHIA, July 5, 2011: Blackboard Inc. announced Friday that it has entered into a definitive agreement under which an investor group led by affiliates of Providence Equity will acquire Blackboard in an all-cash transaction valued at approximately $1.64 billion.

Upon the closing of the transaction, Blackboard will become a privately held company that will continue to be led by its existing senior management team.

A Morgan Lewis team consisting of Employee Benefits partners Robert Lichtenstein and Gary Rothstein and associate Marc Leone advised Blackboard's senior management on the transaction.