Dive Brief:
- As Blackboard’s incoming president and CEO, William “Bill” L. Ballhaus will replace Jay Bhatt, who has been in the top spot since 2012 and plans to stay on in an advisory role to help with the leadership transition.
- Ballhaus will join one of the largest education technology companies in the world after working as CEO of SRA International, an IT services and solutions consulting company, and CEO of DynCorp International, a global government services provider.
- In announcing the transition, Blackboard leaders said now was the “right time” for Bhatt to step down as the company enters a new phase of growth, and Bhatt referred to the tough toll his commute from Boston to Washington, DC, has had on his family.
Dive Insight:
Blackboard has been engaged in a flurry of acquisitions in recent years as it works to compete with other education technology companies, especially those offering rival learning management systems. Blackboard once dominated a market that is now becoming diluted with options.
Last summer, the company was rumored to be up for sale. Blackboard was founded in 1997 and has been in private hands since 2011, when Providence Equity Partners LLC took over as majority owner of the company’s stock. No sale has been announced since Reuters reported that Providence wanted up to $3 billion for the company and its debt, and industry analysts expect Ballahaus’ appointment means there won’t be a sale anytime soon.