Blackboard Inc. | October 26, 2021
Anthology, a leading provider of higher education software solutions that support the entire learner lifecycle, and Blackboard Inc., a leading global EdTech software and solutions company, today completed their previously announced merger.By bringing Blackboard and Anthology together, the combination will create the most comprehensive and modern EdTech ecosystem at a global scale for education. The company is uniquely positioned to enable deeper insights about the learner so that institutions can deliver unmatched personalized experiences and outcomes across the full learner lifecycle.
The parent company of the newly combined organization will be Anthology, with the Blackboard name continuing as an integral part of its brand portfolio. The Anthology brand represents the collection of the best and signifies the continued focus on creating the next chapter in EdTech. The company will tap its leading global position -- with more than 150 million users across 80 countries -- and a comprehensive portfolio of innovative solutions, to enable institutions to remove the historical barriers between administrative and learning ecosystems and drive learner and institutional success.
Led by Chairman and Chief Executive Officer Jim Milton, a team of top-tier executives has been identified across both organizations to lead the combined company. The company's headquarters will be in Boca Raton, Florida. The company also will maintain its global facility footprint including the main Blackboard office in Reston, Virginia.
"The closing of the transaction represents the next chapter for Anthology and Blackboard as our collective offerings can deliver unmatched personalized experiences and insights across the full learner lifecycle," said Milton. "Our combined broad set of capabilities – including teaching and learning, student information systems, enterprise resource planning, community engagement, student success and student engagement – will provide our clients with a full suite of enterprise-level products and services that enable institutions to not only focus on data-driven decisions but completely transform both student and institutional success."
Clients across higher education, K-12 schools, government and business sectors of the combined companies will benefit from:
Accelerated Investments and Innovation in Current Solutions: Anthology will continue to support the solutions of both companies with key strategic investments and a focus on accelerating innovation. It also will ensure that the various solutions integrate to a heterogeneous EdTech ecosystem.
The World's Largest Modern EdTech Ecosystem and Expanded Portfolio of Solutions: Clients will have access to an expanded product portfolio and global reach to meet institutions' learning and administrative needs.
A Commitment to Privacy, Security and Openness: Ensuring the privacy and security of clients' data is a foundational principle and the combined company will continue to meet the high privacy standards globally. The combined company believes openness is a critical element for innovation and will continue to integrate and connect with other solutions.
"With this combination, Anthology is poised to accelerate the data-driven higher ed ecosystem that the market has been demanding. Under the leadership of Jim Milton and the company's proven senior leadership team, Anthology will serve as an industry force to improve outcomes for students and institutions and ensure the advancement of connected knowledge."
Ramzi Musallam, CEO and Managing Partner of Veritas Capital
The combined entity is majority owned by Veritas Capital ("Veritas"), a longstanding technology investor with a focus on companies operating at the intersection of technology and government. Leeds Equity Partners ("Leeds"), a private equity firm focused exclusively on partnering with companies in the Knowledge Industries, holds a minority stake in the company as well as Providence Equity Partners LLC ("Providence"), Blackboard's previous majority owner.
Milbank LLP acted as legal advisor to Anthology and Veritas. Deutsche Bank served as financial advisor to Blackboard, and Weil, Gotshal & Manges LLP acted as legal advisor to Blackboard. Debevoise & Plimpton LLP acted as legal advisor to Providence.
Anthology exists to help higher education advance and thrive using modern cloud technology and services that keep the learner at the forefront. Drawing on a fully connected data experience, Anthology solutions create operational efficiencies, provide intelligence for staff and administrators, and empower institutional leaders to support and guide students on a path to success.
The full suite covers admission and enrollment management; student success and retention; institutional and learning effectiveness; alumni and advancement; and enterprise applications and infrastructure, offering solutions to the challenges facing campuses today. Working with more than 2,000 colleges and institutions in over 30 countries, Anthology is constantly discovering new ways to revolutionize higher education.
Blackboard is a leading EdTech company, serving higher education, K-12, business and government clients around the world. We connect a deep understanding of education with the power of technology to continuously push the boundaries of learning. Our mission is to advance learning together with the world's education community, so that all learners, educators and institutions can realize their goals today and prepare for tomorrow.
About Veritas Capital
Veritas is a longstanding technology investor with a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means.
Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to Veritas. We are proud stewards of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies.
About Providence Equity Partners
Providence Equity Partners is a premier global private equity firm with approximately $45 billion in aggregate capital commitments. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in over 170 companies and is a leading equity investment firm focused on the media, communications, education, software and services industries. Providence is headquartered in Providence, RI, and also has offices in New York and London.
About Leeds Equity Partners
Leeds Equity Partners is a New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training and information services industries (the "Knowledge Industries"). The firm was founded in 1993 and currently manages $3.9 billion of capital across a broad spectrum of companies within the Knowledge Industries. Leeds Equity seeks to leverage its sector-focused expertise and market insights to create long-term value for its partner companies.
SEMCAP Education | February 25, 2022
Seminal Capital Holdings, LLC announces the formation of SEMCAP Education and a strategic, exclusive partnership with ASU Enterprise Partners, the private nonprofit that creates solutions and generates resources to extend the reach of ASU and advance its charter. The two organizations will collaborate on private investments in education and education technology companies with strong use-cases for the university.
SEMCAP is an impact investment manager founded by Buck Buckley and Cyrus Vandrevala. “Investments in education and skills training are proven pathways to improved social outcomes such as consumer health, wealth, life expectancy and overall happiness. SEMCAP Education is already backing world-class companies such as Noodle Partners and McGraw Hill. We’re so pleased to invest in the seminal trends driving this sector, and partnering with ASU EP strengthens both organizations,” says Buckley.
“Partnering with knowledgeable capital allocators such as SEMCAP Education enables Edtech companies in our portfolio growth opportunities.”
ASU Enterprise Partners CEO Dan Dillon
“The SEMCAP Education team is a unique combination of experienced educators, company founders, administrators, investors and regulators with global networks across the sector,” Buckley continued. Chuck Trafton and Vince Menichelli, Managing Partners of SEMCAP Education, are supported by a team of frontline leaders transforming education worldwide, including Jared Carney of Lightdale, LLC and formerly of the Milken Institute and Knowledge Universe, Chris Nagle of Holmes Education Group, Joe Ferguson of Charter School Growth Fund, and Cindy Morgan of Penn Medicine.
ASU Enterprise Partners’ Samantha Bradley is joining the SEMCAP Education Advisory Board, which is chaired by Jo Johnson, the former UK Minister of State for Universities, Science, Research and Innovation, and includes Harry Keiley-Chairman of CalSTRS, the California State Teachers' Retirement System. “Under the leadership of its President, Dr. Michael Crow, ASU has pioneered the application of technology to learning and the widening of access to world-class education. We’re proud to collaborate with a true education innovator on investments in our collective future,” Johnson commented.
Bradley serves as managing director of RealmSpark, the business unit of ASU Enterprise Partners that facilitates the capital investments necessary to fuel a strategically managed portfolio of EdTech ideas and innovation in support of Arizona State University.
Bradley stated, “ASU Enterprise Partners and SEMCAP Education are teaming up to provide the best-positioned growth companies access to value added capital. Together we can help drive the innovation and growth required for ASU to fulfill its mission.”
About SEMCAP Education
SEMCAP Education identifies and backs entrepreneurs who are transforming the future of education and scaling technologies that improve access, affordability, and quality. We invest growth equity in category-leading and category-making education and education technology companies that drive transformation for students, teachers and taxpayers from Pre-K through adult learning. Led by a highly skilled investment team with deep operating and investing experience in education and education technology, the team provides unique deal insight and support for strategic partnering and enhanced growth.
About ASU Enterprise Partners
ASU Enterprise Partners is a private, nonprofit organization whose mission is to create solutions and generate resources to extend Arizona State University’s reach and advance its charter. ASU Enterprise Partners supports ASU through resource raising, realty development, technology transfer, collaborative research and acceleration of ed tech innovations in support of universal, lifelong learning at ASU. Its business units and strategic alignment partners include the ASU Foundation, ASURE, Enterprise Collaboratory at ASU, RealmSpark, Skysong Innovations and University Realty.
prnewswire | September 28, 2020
Inkling, a global leader in modern digital learning solutions, today announced that it has joined forces with OpenSesame, the global elearning innovator, to streamline access to more than 20,000 modern elearning courses. The partnership enables users to easily access the world's top publishers through OpenSesame and easily import them into the Inkling Learning Pathways system. "Both Inkling and OpenSesame share strong relationships with common clients in key markets like retail, life sciences, healthcare and technology," said Inkling CEO Jeff Carr.