Boca Raton-based Anthology announced it will merge with Blackboard Inc. to create one of the world's largest education technology and software firms.
Blackboard is a leading education technology software and solutions firm for higher education, business, K-12 and government. Anthology chairman and CEO Jim Milton will lead the combined company when the merger closes at the end of 2021.
“Upon the completion of this merger, we will have a data-driven product portfolio that seeks to touch every constituent at the institution and will aim to transform the way education uses technology to engage, connect, teach, learn and drive efficiencies across the institution,” Milton said.
Anthology, a cloud technology company for higher education, was formed last year after New York-based Veritas Equity and Leeds Equity Partners consolidated multiple education technology firms to form one firm. It partners with over 2,000 colleges across 30 countries and has approximately 1,400 employees.
The combined company will be majority-owned by Veritas Capital, a private equity firm. Leeds Equity will hold a minority stake in the business. Providence Equity Partners, the majority owner of Reston, Virginia-based Blackboard, will hold also own a minority stake.
Blackboard CEO Bill Ballhaus said the merged company will create the most comprehensive education technology platform on the market and drive a new wave of innovation in the field.
"We believe that combining our companies will enable us to break down data silos across the institution and surface deeper insights about the learner so that we can deliver unmatched personalized experiences across the full learner lifecycle," he said.
The financial terms of the transaction were not disclosed.
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