Stephen Downes

Blackboard has emerged from bankruptcy, reports Phil Hill. "Court filings and company statements show a fundamentally reset organization: virtually no debt, $70 million in new financing, and Matt Pittinsky set to return as CEO once his non-compete and NDA obligations with competitor Instructure expire." Various assets were acquired by Ellucian and Encoura, with Anthology (now rebranded as Blackboard) keeping the remainder. But as Hill notes, "Nexus and Oaktree now control the company. The board structure makes this clear: Nexus and Oaktree each designate multiple directors and together anchor the executive committee."