Apr 30, 2019 · Share this article. WASHINGTON, April 30, 2019 /PRNewswire/ -- Blackboard Inc. (Blackboard) today announced that the company has completed the sale of its Blackboard Transact business unit ...
Mar 07, 2019 · WASHINGTON, March 7, 2019 /PRNewswire/ -- Blackboard Inc. today announced the execution of a definitive agreement to sell its Blackboard Transact business unit ("Transact") to Reverence Capital Partners, LP ("Reverence"). The transaction will enable Blackboard to remain laser focused on and continue to deliver market-leading innovation in its teaching and learning …
Mar 07, 2019 · Industry News. Blackboard to Sell Its Transact Business Unit. By Rhea Kelly; 03/07/19; Blackboard has announced the execution of a definitive agreement to sell its Transact business unit to private equity firm Reverence Capital Partners.Transact's portfolio of campus engagement and payments solutions includes campus access, mobile credentials, stored value …
Blackboard Transact provides technology that allows for greater integration with existing systems and enables new services that improve conveniences across the campuses. Cashless campuses provide students with seamless and secure transactions using a one card solution from Blackboard Transact. Top Industries that use Blackboard Transact
Our mission is to partner with the global education community to enable learner and institutional success, leveraging innovative technologies and services. With an unmatched understanding of the world of the learner, the most comprehensive student-success solutions, and the greatest capacity for innovation, Blackboard is education's partner in change.
Transact is headquartered in Phoenix, Arizona and has served the education community for over 25 years.
Reverence Capital Partners is a private investment firm focused on thematic investing in leading global, middle-market Financial Services businesses through control and influence oriented investments in 5 sectors: (1) Depositories and Finance Companies, (2) Asset and Wealth Management, (3) Insurance, (4) Capital Markets and (5) Financial Technology/Payments. The firm was founded in 2013, by Milton Berlinski, Peter Aberg and Alex Chulack, after distinguished careers advising and investing in a broad array of financial services businesses. The Partners collectively bring over 90 years of advisory and investing experience across a wide range of financial services sectors.
Customize Blackboard Transact users by location, employees, revenue, industry, and more.
We use the best indexing techniques combined with advanced data science to monitor the market share of over 15,000 technology products, including Academic Learning Management. By scanning billions of public documents, we are able to collect deep insights on every company, with over 100 data fields per company at an average.
Blackboard Transact provides technology that allows for greater integration with existing systems and enables new services that improve conveniences across the campuses. Cashless campuses provide students with seamless and secure transactions using a one card solution from Blackboard Transact.
Looking at Blackboard Transact customers by industry, we find that Higher Education (81%) is the largest segment.
Of all the customers that are using Blackboard Transact, a majority (65%) are large (>1000 employees), 5% are small (<50 employees) and 27% are medium-sized.
Customize Blackboard Transact users by location, employees, revenue, industry, and more.
Blackboard Transact CEO David Marr, who will continue to lead Transact after the sale closes, was upbeat about the sale and indicated that Transact will continue, but not under the Blackboard Inc. label.
In a press release issued at the time of the announcement, the company said that it would soon be “enhancing the student ID card experience with the ability to add a student ID to Wallet on iPhone and Apple Watch.” While primarily promoted as a way to facilitate cashless transactions on campus, in reality, Blackboard Mobile Credentials were never just about making it easier for students to buy water or chips without taking a debit card. A key part of Blackboard Mobile Credentials was automatic attendance tracking. While automatically tracking where students are at any moment may raise concerns for students, some university officials were eager to sign up for the new service and did. Early adopters included Duke University, the University of Alabama, and University of Oklahoma.
Not even a year after the rollout of Blackboard Mobile Credentials, however, Blackboard Inc. has announced that it is selling Transact. While this may reflect the fact that Blackboard Mobile Credentials has not gained as much traction as hoped, most analysts believe the sale is another sign of Blackboard Inc.’s ongoing financial troubles.
As widely reported last year, Blackboard Inc’s debt has been rising and its subscription base for its LMS, specifically in the United States, has been declining in recent years.
In a news release issued on March 7, Blackboard Inc. stated that it was selling off Blackboard Transact and with it, all its related campus digital solutions, including Blackboard Mobile Credentials.