Milbank LLP advised Veritas Capital, a longstanding investor in companies operating at the intersection of technology and government, on the sale of Anthology’s Blackboard Collaborate virtual classroom tool to Class Technologies, Inc. The transaction, which is subject to customary conditions and approvals, is expected to close in Q2 of 2022.
Class Technologies will continue full support for customers across Class for Zoom and Blackboard Collaborate. The companies will also partner to build a tight integration between Blackboard Learn and Class to promote student success.
Anthology's Blackboard Collaborate is a leader in the synchronous virtual classroom space with deep integration into Blackboard Learn Ultra, serving over 10 million users across more than 1,300 institutions in over 75 countries worldwide. Class brings the classroom online by adding teaching and learning tools to the Zoom platform, which is used by hundreds of thousands of institutions and businesses globally. Together, Class and Blackboard Collaborate will serve over 1,750 institutions representing higher education, K-12 and corporate learning & development teams around the world.
The Milbank deal team was led by Global Corporate partner Richard Presutti, along with associates Lowell Dyer and Benjamin Fidler. The team also included Global Capital Markets partner Antonio Diaz-Albertini, Executive Compensation partner Mike Shah and special counsel James Beebe, Tax partner Max Goodman and Antitrust partner Fiona Schaeffer and special counsel Andrew Wellin.
May 19, 2022
