FTC Clears $1.6B Blackboard Sale To Providence

Law360, New York (August 3, 2011, 7:05 PM EDT) -- The Federal Trade Commission on Wednesday cleared the sale of educational software company Blackboard Inc. to investors affiliated with private equity firm Providence Equity Partners, moving the $1.64 billion cash deal one step closer to completion.

The FTC gave the deal early clearance under the Hart-Scott-Rodino Act, finding no antitrust concerns over the sale, which was announced by the two companies on July 1. But the deal — which includes the assumption of $130 million in Blackboard debt — could still be stalled by a shareholder...
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