WASHINGTON, April 19, 2011 /PRNewswire/ -- Blackboard
(NASDAQ: BBBB) today announced that it has retained Barclays
Capital as its financial advisor in response to receiving
unsolicited, non-binding proposals to acquire the company.
The company is evaluating the offers as well as strategic
alternatives to enhance shareholder value, including whether other
third parties would have an interest in acquiring the company at a
price and on terms that would represent a better value for its
shareholders than having the company continue to execute its
business plan on a stand-alone basis.
"Our Board is committed to fulfilling its fiduciary duties to
act in the best interests of shareholders. We remain focused
on our company's strategic plan and are committed to delivering the
highest quality products and sustained client satisfaction," stated
Michael Chasen, Blackboard's
President and Chief Executive Officer.
There can be no assurance that the process described above will
result in a transaction. The Company undertakes no obligation to
provide further updates.
About Blackboard Inc.
Blackboard Inc. (NASDAQ: BBBB) is a global leader in enterprise
technology and innovative solutions that improve the experience of
millions of students and learners around the world every day.
Blackboard's solutions allow thousands of higher education, K-12,
professional, corporate, and government organizations to extend
teaching and learning online, facilitate campus commerce and
security, and communicate more effectively with their communities.
Founded in 1997, Blackboard is headquartered in Washington, D.C., with offices in North America, Europe, Asia
and Australia.
Any statements in this press release about future
expectations, plans and prospects for Blackboard and other
statements containing the words "believes," "anticipates," "plans,"
"expects," "will," and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including the factors
discussed in the "Risk Factors" section of our Form 10-K filed
on February 18, 2011 with the SEC. In
addition, the forward-looking statements included in this press
release represent the Company's views as of April 19, 2011. The Company anticipates that
subsequent events and developments will cause the Company's views
to change. However, while the Company may elect to update these
forward-looking statements at some point in the future, the Company
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Company's views as of any date subsequent to
April 19, 2011.
SOURCE Blackboard Inc.