Shame of it though, is that I don't actually think the higher eds using WebCT or Blackboard will even recognise a problem with the 'merger'. They'll probably see it as an indication of an even bigger and better LMS!
Two leading providers of enterprise software and services to the education community, Blackboard Inc. (Nasdaq: BBBB) and WebCT, Inc., today announced a definitive agreement 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...
..."This merger makes tremendous sense for our clients, shareholders and employees. It marks an unparalleled opportunity for two successful, mission- driven organizations to unify with a singular focus on being the premier partner and platform for educators on a global basis," said Michael Chasen, Blackboard President and Chief Executive Officer. "Together with our clients, we have one of those rare and special opportunities to truly improve the access, quality and efficiency of education on a global scale."
Oh gawd! this corporate talk makes me puke! But it just gets worse with points on why BB think its good...
(BlackBoard's media room)
- Top rated, proven e-Learning solutions recognized for ease-of-use, flexibility and scalability
- A broad, unified platform for publishers and e-Learning software developers that spans the globe
- A world-class service and support organization benefiting from the best-practices and infrastructure investments of both companies
- A stronger presence in the global education markets, including an expanded international footprint, including the UK, Canada, Australia, Japan, South Africa, Finland, Netherlands, Singapore, Spain, Hong Kong and Ireland
- Expanded base of Blackboard clients, allowing Blackboard to better serve those WebCT e-Learning institutions that also use the Blackboard Commerce Suite(TM) product set
- Larger revenue streams, enabling greater investment for innovation
Clearly this press release is more concerned with keeping shareholders on board than it is with settling the wimpy concerns of clients! Basically its all about world domination and more money!
So, my turn at a little bit of shameless 'I told you so' with pointers to past posts made here at TALO:
- More Against the LMS
- Early Film, Early Internet, Early Days
- The Post LMS Age
- Everything You Need to Teach and Learn Online
- Lawsuite forces Web 2 Learning
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