Private equity firm Providence Equity Partners is in exclusive talks to purchase Blackboard Inc (BBBB.O), which makes learning software for schools and businesses, a source familiar with the matter said on Thursday. A deal may happen as early as next week, the source said. Washington D.C.-based Blackboard said in April it had retained Barclays Capital to advise it over unsolicited, non-binding acquisition proposals it has received. The source declined to be named because the matter is private.
Blackboard Inc. is a provider of enterprise software applications and related services to the education industry. Shares of BBBB traded higher by 1.62% or $0.65/share to $40.77. In the past year, the shares have traded as low as $32.55 and as high as $50.26. On average, 708966 shares of BBBB exchange hands on a given day and today's volume is recorded at 310353.