The buyers include Bain Capital, the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners and Texas Pacific Group. The group is led by Silver Lake Partners. The deal is a leveraged buyout – Sungard will be taken private and its shares removed from Wall Street.
RTTNews – Private equity firm Providence Equity Partners, Inc. agreed Friday to take educational software and systems provider Blackboard, Inc. (BBBB: News ) private for $45 per share in an all-cash deal of $1.64 billion.
It would appear now that Providence Equity Partners owns two giants in the Higher Ed outsourcing industry Sungard and Blackboard. What does this mean? Will there be consolidation where there is overlap between the two companies? Will there be attempts to steal customers or upsell each other’s products?
- Special Notes on Recent Changes for Blackboard (hollymccracken.wordpress.com)
- Providence Equity Is Said to Be in Lead to Buy Blackboard (businessweek.com)