NTI Group Acquisition Closes

Washington, D.C.-based Blackboard, a provider of software for the education community, said late Thursday that it has closed its acquisition of Sherman Oaks-based NTI Group. NTI Group was a provider of mass messaging and notification services for the school and government market. The deal was worth $182M in cash and stock, and up to $17M in earn out. NTI Group was advised by UBS Investment Bank in the deal, along with Latham and Watkins LLP; Blackboard was advised by Wachovia Securities and Dewey & LeBoeuf. The deal was originally announced January 14th.