Deals
Providence Fields Offers for Student Payments Company Blackboard Transact
- Company could fetch about $720 million in a sale, people say
- Unit is part of Blackboard Inc., which is struggling with debt
Photographer: Chris Goodney/Bloomberg
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Providence Equity Partners LLC has fielded takeover offers for a unit of Blackboard Inc., an education-software company that has been struggling under its debt load, according to people with knowledge of the matter.
Providence is working with an adviser as it weighs a sale of Blackboard Transact, a campus-focused payments company that could fetch around $720 million, according to the people, who asked not to be named because the matter is private. A Providence representative declined to comment, and a representative for Blackboard Inc. didn’t immediately respond to requests for comment.