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No. of Recommendations: 2
Yes, Blackboard got taken out by a private group. Funny for a company that is a "leading provider of enterprise learning software applications and related services" still has an investor relations tab on their site, with a stock quote and everything, even though their Q2 earnings report also mentions that "On July 1, 2011, Blackboard announced that it had entered into a definitive merger agreement under which Blackboard will be acquired by an affiliate of Providence Equity Partners in an all-cash transaction. Pursuant to terms of the agreement, Blackboard shareholders will receive $45.00 in cash for each share of common stock."

$1.6 billion dollars seems a little pricy for a company making a small loss on about $500 mn in revenues, but that's the problem with this sort of story stock. That may be the problem with the concept in general, of looking for a stock on the basis of a general thesis...

Regards, DTM
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