LOGIN
REGISTER
NEWSLETTER
RSS
SOFTWARE INDUSTRY NEWS |
Blackboard to acquire Saf-T-Net |
|
|
Blackboard Inc. has said it has inked a definitive agreement to acquire privately-held Saf-T-Net, Inc., a company that provides AlertNow – a messaging and mass notification solution for the K-12 marketplace – for around $33 million in cash, excluding transaction costs and subject to certain adjustments. Headquartered in Raleigh, NC, Saf-T-Net employs around 65 professional staff serving K-12 clients located throughout the US. Blackboard Inc. said Saf-T-Net has over 2,000 K-12 clients and the acquisition would increase its commitment to the K-12 market. Additionally, Blackboard said Saf-T-Net provides features and functionality that would enhance and accelerate development for its own messaging and mass-notification offering, known as Blackboard Connect, including new Parent Portal technology, enhanced survey capabilities and multi-lingual capabilities. Blackboard also said that the broadened capabilities and client base provides significant opportunities and “there is the potential to realize long-term infrastructure cost benefits as a result of the increased scale from the combined operations.”  Michael Chasen, CEO and President of Blackboard said the acquisition of AlertNow broadens the company's mass notification offerings and extends its focus on mobile devices. "AlertNow has enjoyed strong renewal rates and we look forward to delivering the highest service levels to our broader base of clients. We are also excited to welcome our new colleagues from the AlertNow team to Blackboard." Robert Bruce, President and CEO of Saf-T-Net said Blackboard shares “our enthusiasm for serving the needs of parents, teachers and administrators across the K-12 market.” In its statement, Blackboard reaffirmed its previous guidance for the first quarter of 2010, saying that its management did not expect the acquisition of Saf-T-Net to impact the company's first quarter financials given an anticipated closing in late March. The company anticipates revenue of $98.6 to $102.6 million, amortization of acquired intangibles of approximately $8.9 million and stock-based compensation expense of approximately $5.1 million. It expects GAAP net income of $3.2 to $5.7 million, and a net income per diluted share of $0.09 to $0.16 based on an estimated 34.8 million diluted shares and an estimated effective tax rate of approximately 36 percent. Blackboard said its management currently expects Saf-T-Net to contribute approximately $5.5 million to Blackboard's 2010 GAAP revenue, assuming the anticipated late March closing date for the acquisition. It expects the acquisition to be dilutive to full year 2010 by approximately ($0.09) to GAAP net income per diluted share. For its guidance for the full year 2010, Blackboard said it currently expects revenue of $429.5 to $445.5 million, amortization of acquired intangibles of approximately $35.0 million and stock-based compensation expense of approximately $20.2 million. It anticipates GAAP net income of $19.7 to $30.1 million and GAAP net income per diluted share of $0.56 to $0.85 is based on an estimated 35.5 million diluted shares and an estimated effective tax rate of approximately 36 percent. It expects cash flow from operations of $100.0 to $110.0 million and capital expenditures of approximately 4 to 5 percent of total revenue. |
LISTS AND RESEARCH
-
Global Software Top 100 - Edition 2011
- The Global Software Top 100 is a list of the world's largest software companies, ranked by annual software revenues. The list is based upon revenue information of 10,000+ IT companies worldwide.
-
Software industry trends (2011)
- This research article (accompanying the Global Software Top 100) describes changes in the software industry playing field. It analyses trends and key players and forecasts future developments.
- Top hardware companies
- A list of the world's largest hardware companies.
- What happens in the hardware industry?
- Trends and analysis of the hardware industry and its key players.
- Top IT services companies
- A list of the world's largest IT services companies, ranked by annual services revenues. This link will take you to www.servicestop100.org.
- IT services companies: healthy growth
- What is happening in the IT services industry? Read this research publication to find out about trends and key players in the IT services industry.
- Top gaming companies (2010)
- Entertainment is good business, and gaming software companies are growing faster than the rest of the software industry. This research article discusses trends and key players in the gaming business.
- Top ERP companies
- A research publication about the world's leading players in enterprise software.
- Top security software companies
- A research publication discussing the world's leading publishers of security software: antivirus-, spamfiltering-, intrusion detection- and firewall software.
- The fastest growing software companies
- This research publication reveals the fastest growing software companies in the world.
-
CRM companies: a short list
- A short list of the leading software companies selling Customer Relationship Management software; aimed at IT managers looking to purchase CRM software.
- Top software companies in the US (2010)
- A list of the largest software companies in the United States, ranked by annual software revenues. 2010 Edition, posted 15 December 2010.
- U.S. software industry trends (2010)
- A research publication discussing the trends and the key players in the software industry in the United States. Posted 15 December 2010.
- Top companies in the world (not just software)
- A general list of the largest companies in the world, ranked by revenues. Not just software companies; in fact, there are no software companies in it...
- Top IT companies
- A list of the largest IT companies in the world, ranked by annual revenues. Includes hardware, software and services.
