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.

For more information about the deal, please see Blackboard's press release