Blackboard and WebCT Announce Agreement to Merge

Two leading providers of enterprise software and services to the education community, Blackboard Inc. (Nasdaq: BBBB) and WebCT, Inc., today announced a definitive agreement to merge. Under terms of the agreement, Blackboard will acquire WebCT in a cash transaction for $180 million, which values the offer at approximately $154 million, net of WebCT's August 31, 2005 cash balance of $26 million.  The ultimate value of the offer will vary depending on WebCT's cash balance at closing.  For more click here