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Blackboard agrees to buy NTI Group

January 14, 2008|From Bloomberg News

Blackboard Inc., the maker of software used by colleges to put lectures online, agreed to buy Sherman Oaks-based NTI Group Inc. for $182 million, adding technology that sends emergency alerts to students at primary schools and universities.

Blackboard will pay $132 million in cash and $50 million in stock for closely held NTI, according to a statement from the Washington-based company. NTI's owners may get an additional $17 million in stock, depending on the business' performance.

Blackboard shares fell 80 cents, or 2.2%, to $36.01 on Friday. They gained 34% last year.

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