Blackboard to Acquire Saf-T-Net, Inc., Provider of AlertNow
March 8, 2010
WASHINGTON, March 8, 2010 /PRNewswire via COMTEX/ -- Blackboard Inc. (Nasdaq: BBBB) today announced that it has entered into a definitive agreement to acquire privately-held Saf-T-Net, Inc., provider of AlertNow, a leading messaging and mass notification solution for the K-12 marketplace, for approximately $33 million in cash, excluding transaction costs and subject to certain adjustments.
"Our acquisition of AlertNow broadens our mass notification offerings, extends our focus on mobile devices and creates greater value for our significantly expanded K-12 client base. The strength of AlertNow's value proposition is evidenced by their rapid growth, and we believe its addition to Blackboard will further enhance our momentum," said Michael Chasen, CEO and President of Blackboard. "AlertNow has enjoyed strong renewal rates and we look forward to delivering the highest service levels to our broader base of clients. We are also excited to welcome our new colleagues from the AlertNow team to Blackboard."
"Blackboard shares our enthusiasm for serving the needs of parents, teachers and administrators across the K-12 market," said Robert Bruce, President and CEO of Saf-T-Net. "We look forward to working with the Blackboard team to provide our clients and industry with an even broader selection of communication offerings and new innovations."
Headquartered in Raleigh, NC, Saf-T-Net employs approximately 65 professional staff serving K-12 clients located throughout the U.S. With more than 2,000 K-12 clients, Saf-T-Net increases Blackboard's commitment to the K-12 market. In addition, Saf-T-Net provides features and functionality that will enhance and accelerate development for Blackboard's own messaging and mass-notification offering Blackboard Connect(TM), including: new Parent Portal technology; enhanced survey capabilities; and multi-lingual capabilities. The broadened capabilities and client base provides significant opportunities, and there is the potential to realize long-term infrastructure cost benefits as a result of the increased scale from the combined operations.
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