Private equity firm Providence Equity Partners is nearing a deal to purchase education software company Blackboard Inc (BBBB.O) with the two sides finalizing terms on Thursday evening, said three sources close to the situation. A deal could be announced by Friday morning, two sources said. Bank of America Merrill Lynch (BAC.N), Morgan Stanley (MS.N) and Deutsche Bank (DBKGn.DE) are providing the debt financing for the transaction, two of the sources said. Providence and the banks declined to comment. Blackboard was not immediately available for comment.
Blackboard Inc. is a provider of enterprise software applications and related services to the education industry. Shares of BBBB fell by 0.57% or $-0.25/share to $43.39. In the past year, the shares have traded as low as $32.55 and as high as $50.26. On average, 745097 shares of BBBB exchange hands on a given day and today's volume is recorded at 375230.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 1.62% or $-0.18/share to $10.96. In the past year, the shares have traded as low as $10.40 and as high as $15.72. On average, 136591008 shares of BAC exchange hands on a given day and today's volume is recorded at 255814512.
Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 1.62% or $-0.38/share to $23.01. In the past year, the shares have traded as low as $22.40 and as high as $31.04. On average, 13540300 shares of MS exchange hands on a given day and today's volume is recorded at 22250416.
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