M&A Deal Summary

Blackboard Acquires Saf-T-Net

On March 8, 2010, Blackboard acquired internet software and services company Saf-T-Net from Plexus Capital for 33M USD

Acquisition Highlights
  • This is Blackboard’s 1st transaction in the Internet Software and Services sector.
  • This is Blackboard’s 5th largest (disclosed) transaction.
  • This is Blackboard’s 5th transaction in the United States.
  • This is Blackboard’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2010-03-08
Target Saf-T-Net
Sector Internet Software and Services
Buyer(s) Blackboard
Sellers(s) Plexus Capital
Deal Type Add-on Acquisition
Deal Value 33M USD

Target

Saf-T-Net

Raleigh, North Carolina, United States
Saf-T-Net, Inc. is a software as a service (SaaS) company providing rapid communication services for schools with its AlertNow services.

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Buyer(S) 1

Buyer

Blackboard

Reston, Virginia, United States

Category Company
Founded 1997
Sector Software
Employees1,780
DESCRIPTION

Blackboard is a global educational software company that allows thousands of higher education, K-12, professional, corporate and government organizations to extend teaching, learning and campus communication online to millions of students, parents and teachers. Blackboard was founded in 1997 and is based in Reston, Virginia.


DEAL STATS #
Overall 5 of 24
Sector: Internet Software and Services M&A 1 of 4
Type: Add-on Acquisition M&A Deals 5 of 22
State: North Carolina M&A 1 of 1
Country: United States M&A 5 of 18
Year: 2010 M&A 1 of 3
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-11 ANGEL Learning

Indianapolis, Indiana, United States

ANGEL Learning, Inc. is a developer of e-learning software to the U.S. education industry. ANGEL Learning's flagship products are the ANGEL Learning Management Suite and the ANGEL ePortfolio system.

Buy $95M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-07 Elluminate

Calgary, Alberta, Canada

Elluminate offers advanced virtual classroom technology that allows education institutions to hold synchronous live courses over the Web, including audio, video, white board and social learning capabilities Elluminate, headquartered in Calgary, Alberta, was founded in 2000 and employs approximately 140 professional staff serving more than 1,900 K-12 and higher education clients located throughout the U.S. and 80 other countries.

Buy -

Seller(S) 1

SELLER

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 3 of 44
Sector: Internet Software and Services M&A 1 of 3
Type: Add-on Acquisition M&A Deals 2 of 23
State: North Carolina M&A 1 of 8
Country: United States M&A 3 of 44
Year: 2010 M&A 1 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-16 Web Products

Kansas City, Kansas, United States

Web Products, Inc. is a designer, manufacturer and distributor of a full line of furnace filters, air conditioning filters, air filters, allergy filters, and air filter accessories used to improve residential air quality and fragrance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-01 Sherman & Reilly

Chattanooga, Tennessee, United States

Sherman & Reilly, Inc. is a manufacturer of underground and aerial transmission and distribution products based in Chattanooga, Tennessee.

Buy -