Local Business Alert: Blackboard agrees to $1.64 billion buyout by Providence Equity Partners-led investor group

---------------------------------------- Local Business News Alert: Blackboard agrees to $1.64 billion buyout by Providence Equity Partners-led investor group July 1, 2011 12:24:44 PM ---------------------------------------- After a four-month review of the education software company's strategic options, Blackboard has agreed to a $1.64 billion buyout by an investor group led by Providence Equity Partners. The deal will take the company private and keep its existing management in place. The all-cash purchase will earn Blackboard's stockholders $45 per share. That's a 21 percent premium over the $37.16 per share closing price on April 18, the day before the company said publicly that it was entertaining buyout offers. Blackboard's shares were trading at $44.16 shortly after 11:30 a.m. Friday. http://link.email.washingtonpost.com/r/QJTXP3/8AX8KJ/XCKX16/2JEVP2/1RHVA/7V/h For more information, visit PostBusiness.com and Capital Business. ---------------------------------------- Get The Washington Post app for iPad, iPhone or iPod Touch. http://itunes.com/apps/thewashingtonpost ---------------------------------------- Get breaking news alerts sent to your mobile phone. Sign up by texting NEWS to 98999. Manage your e-mail subscriptions To unsubscribe, click here ---------------------------------------- ©2011 The Washington Post Company Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, DC 20071