Learning Technologies Group plc (LTG) has agreed to buy all intellectual property and assets relating to Blackboard’s Open LMS platform for $31.7 million.
Following the completion of the transaction, Open LMS (formerly known as Moodlerooms) will be a standalone brand within LTG’s portfolio (which includes gomo, PeopleFluent & Rustici Software).
The deal will be funded from existing cash and banking facilities.
Under a partnership agreement, LTG will resell Blackboard products integrating with Open LMS.
Blackboard's current Chief Learning and Innovation Officer, Phillip Miller, will leave Blackboard to lead the Open LMS business at LTG.
LTG Chief Executive, Jonathan Satchell, commented: “I am delighted to welcome Open LMS into the Group. We are excited, not only by the introduction of the Open LMS product into our portfolio, but by the addition of the talented workforce transferring into the Group under Phill’s leadership. I am keen to see how we can further develop the capability afforded by this acquisition in the coming weeks and months.”
For Blackboard, they claim the deal will allow them to further simplify the business and "accelerate momentum in helping clients move to its Software as a Service (SaaS) deployment of Learn and Ultra" (their proprietary software offerings).