Unaudited Pro Forma Financial InformationUnaudited Pro Forma Financial Information • April 14th, 2008 • Blackboard Inc • Services-prepackaged software
On January 11, 2008, Blackboard Inc. (“Blackboard” or the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, Bookstore Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“Merger Sub”), The NTI Group, Inc., a Delaware corporation (“NTI”), and Pace Holdings, LLC, a Delaware limited liability company. The Merger Agreement provided for Merger Sub to be merged with and into NTI (the “Merger”). On January 31, 2008, the parties consummated the Merger. As a result of the Merger, the separate corporate existence of Merger Sub ceased and NTI continued as the surviving corporation and a wholly-owned subsidiary of the Company. Since the completion of the Merger, The NTI Group, Inc. was renamed to Blackboard Connect Inc.
