May 20, 2022

EdTech Company Class Agrees to Take Over Blackboard’s Virtual Classroom Tool

L Last week, it was announced that Class Technologies, a start-up that incorporates teaching and learning tools into Zoom will acquire the virtual classroom tool Blackboard Collaborate. According to reports, after the start of the pandemic, Class Technologies became one of the best-funded new Ed-Tech startups in the world.

The company raised more than $164 million to build out a series of classroom features on top of Zoom. While both parties refused to delve into details about the price, sources say the sale concluded for around $210 million.

…in the long run, they may shut down the Collaborate product, but only after they’ve been able to migrate those customers to their core product [the Zoom add-ons]…

Although the takeover gets done by the end of 2022, sources claim that Blackboard learning management system will remain with Anthology. A source close to the takeover added that the new venture is likely to be named 'Class Collaborate'. The source further added that a large chunk of staff will still be on the payroll, as the new owners see the venture as a partnership for the long term rather than just a takeover.

Troy Williams says Anthology was interested in the LMS when it merged with Blackboard. “In the long run, they may shut down the Collaborate product, but only after they have been able to migrate those customers to their core product [the Zoom add-ons],” Williams says.

With the takeover, Class will gain access to Blackboard's global customer base and integration into the Blackboard learning management system will benefit Class.

Posted in Collaborations and tagged Collaborations, Class, Blackboard, Virtual Classroom, Merger, Takeover
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