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Technology Stocks : Blackboard Inc. (Nasdaq:BBBB)

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From: JakeStraw3/8/2010 9:23:04 AM
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Blackboard to Acquire Saf-T-Net, Inc., Provider of AlertNow
finance.yahoo.com

WASHINGTON, March 8 /PRNewswire-FirstCall/ -- Blackboard Inc. (Nasdaq:BBBB) today announced that it has entered into a definitive agreement to acquire privately-held Saf-T-Net, Inc., provider of AlertNow, a leading messaging and mass notification solution for the K-12 marketplace, for approximately $33 million in cash, excluding transaction costs and subject to certain adjustments.

"Our acquisition of AlertNow broadens our mass notification offerings, extends our focus on mobile devices and creates greater value for our significantly expanded K-12 client base. The strength of AlertNow's value proposition is evidenced by their rapid growth, and we believe its addition to Blackboard will further enhance our momentum," said Michael Chasen, CEO and President of Blackboard. "AlertNow has enjoyed strong renewal rates and we look forward to delivering the highest service levels to our broader base of clients. We are also excited to welcome our new colleagues from the AlertNow team to Blackboard."
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