Alfred Essa assesses the Anthology bankruptcy thus: "Its growth thesis was that colleges would prefer an all-in-one platform linking academic and administrative systems - a synergy that never materialized." Why? "Faculty and academic leaders typically choose the LMS; registrars and CIOs choose SIS/ERP systems. Those decisions are siloed, making cross-selling impossible at scale." But it wasn't just that. Blackboard, acquired by Anthology in 2021, was already struggling. The Blackboard Learn rollout had problems, and price increases were costing the company customers. Ultimately, Anthology ran up more debt than it could ever pay off.
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