Blackboard and WebCT merge

Acidangl writes "Blackboard and WebCT, leading providers of enterprise software and services to the education industry have announced plans to merge." From the article: "Under terms of the agreement, Blackboard will acquire WebCT in a cash transaction for $180 million, which values the offer at approximately $154 million, net of WebCT's August 31, 2005 cash balance of $26 million. The ultimate value of the offer will vary depending on WebCT's cash balance at closing."