An update from WebCT & Blackboard...........
Since we announced the merger of WebCT and Blackboard in early October, great progress has been made to bring the two companies together and pursue the vision for the combined organization. Today we write to provide an update on where we are and a preview of next steps.
Last Wednesday we received a U.S. Department of Justice request for additional information about the potential merger. While we work with the government to provide the needed information, we continue to focus our attention on covering the remaining ground necessary to become a combined company.
Over the last six weeks, both management teams have visited with and gotten to know one another. Blackboard also had the special privilege of spending time with members of WebCT?s Product Advisory Board and hearing some of their perspectives on the merger. The better we get to know each other, the more we are struck by the many similarities and shared interests between WebCT and Blackboard. And where there are differences, we?ve been pleased to find them complementary to the capabilities of the combined organization and beneficial to the larger community of clients.
What has been most common in all our meetings is a shared enthusiasm for the opportunity before us to enable educational innovations among the thriving community of learning institutions that results from this merger. That enthusiasm has fueled the initial phases of a thoughtful and thorough planning process - from Product Development to Support and beyond - that positions us to continue focusing on client success and minimize any disruption as we integrate the two companies following official completion of the merger.
We anticipate that the merger will be completed within the first two quarters of 2006, depending on the actual length of the regulators? review. Along the way we will keep you posted on our progress and communicate regularly regarding any noteworthy milestones.
We look forward to working with you and the rest of the client community closely as we together pursue the next stage in e-Education and work to bring about lasting results for students, teachers and learning institutions. Thank you for your continued support and partnership.