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Technology Stocks : Blackboard Inc. (Nasdaq:BBBB)

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From: JakeStraw5/11/2009 8:18:33 AM
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Blackboard Completes Acquisition of ANGEL Learning, Inc.
Monday May 11, 2009, 8:00 am EDT

WASHINGTON, May 11 /PRNewswire-FirstCall/ -- Blackboard Inc. (Nasdaq: BBBB), a global leader in education technology today announced the completion of its acquisition of ANGEL Learning, Inc., a leading developer of e-learning software to the U.S. education industry. As previously announced, Blackboard is acquiring ANGEL for approximately $95 million, net of cash acquired and excluding transaction costs.

The acquisition combines ANGEL's record of innovation and client service with Blackboard's own innovation, financial strength and industry leadership to create a stronger, more flexible supporter of teaching, learning and student engagement. The combined company aims to accelerate the pace of innovation and interoperability in e-learning, and will continue to invest in solutions to more effectively support teachers and learners. The acquisition will also enable Blackboard to incorporate ANGEL's client-first culture that has translated into consistently excellent experiences and high retention of ANGEL Learning clients.

A Combined Focus on Teaching and Learning

Blackboard's acquisition of ANGEL Learning will introduce a range of benefits to institutions and the e-learning community, including:

* A combined global community of practice of more than 5,800 K-12 schools, colleges and universities, government organizations and corporations
* A broader, unified platform for the general media, publishers and e-learning software developers that increases interoperability for institutions
* A world-class service and support organization benefiting from best-practices and infrastructure investments
* Industry leading e-learning technology expertise including specialization on Microsoft's .NET platform and Microsoft technologies
* A stronger company with a greater capacity to invest in research and development for new solutions over time
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