A group led by Providence Equity Partners has completed its $45 per share public-to-private buyout of Blackboard (NASDAQ: BBBB). The transaction was valued at about $1.64 billion plus $136 million of assumed debt and included about $850 million of equity. Blackboard provides enterprise technology and solutions for the education industry.
Since the beginning of 2007, PE investors have taken 45 Information Technology companies private, according to the PitchBook Platform. With 10 completed public-to-private buyouts so far this year, 2011 is gaining on 2007's final deal tally of 13. However, 2011 has been a year of large take-private deals, and half of the year's completed transactions have each involved over $1 billion, sending the median deal size for 2011 to date skyrocketing to $1.3 billion, more than double 2007's $585 million.