Blackboard and WebCT have anno
October 1, 2005Blackboard and WebCT have announced plans to merge. Under terms of the agreement, Blackboard will acquire WebCT in a cash transaction for $180 million, which values the offer at approximately $154 million, net of WebCT's August 31, 2005 cash balance of $26 million. The ultimate value of the offer will vary depending on WebCT's cash balance at closing. Subject to regulatory approval and other customary closing conditions, the transaction is expected to close late this year or in early 2006.
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