Education technology providers Anthology and Blackboard have agreed to merge. The combined company will be majority owned by Veritas Capital, while Leeds Equity Partners will hold a minority stake. Anthology is majority owned by Veritas and Leeds. Providence Equity Partners owns a majority stake in Blackboard and will also have a minority stake in the new combined company.
Anthology provides higher education software services around enrollment management, student engagement and alumni fundraising. Blackboard offers learning management software to students.
“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,” says Anthology CEO Jim Milton, who will lead the combined company.
Milbank LLP is Anthology and Veritas. J.P. Morgan and UBS are providing financing to Anthology.
Deutsche Bank and Weil, Gotshal & Manges LLP are advising Blackboard. Debevoise & Plimpton LLP is representing Providence.