Providence's Blackboard to sell Cashnet to Reverence
Blackboard Inc said March 7 that it agreed to sell its Transact business unit, including Cashnet, to Reverence Capital Partners. Financial terms weren’t announced. The deal is expected to close in second quarter. Transact, of Phoenix, provides campus engagement and payments solutions to higher-education and other institutions in the U.S. and internationally. Blackboard is a portfolio company of Providence Equity Partners. Deutsche Bank served as financial adviser, while Dechert acted as legal counsel to Blackboard.
8 March 2019•4 mins read
