Law Offices of Howard G. Smith Announces Investigation of Blackboard, Inc.

Law Offices of Howard G. Smith announces that it is investigating potential claims against the Board of Directors of Blackboard Inc. (“Blackboard” or the “Company”) (NasdaqGS:BBBB) related to the Company’s agreement to be acquired by affiliates of Providence Equity Partners in a proposed transaction where Blackboard shareholders will receive $45.00 per share in cash for each share they own of the Company’s common stock. The transaction is valued at approximately $1.64 billion.

The investigation concerns whether the Board of Directors of Blackboard breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. Blackboard has experienced recent positive financial results. For example, total revenue for first quarter 2011 at the Company was $118.8 million, an increase of 18% over first quarter 2010. Further, several analysts have set a target price of over $50.00 per share, virtually nullifying any premium that Blackboard shareholders would receive under the transaction.

If you are a shareholder of Blackboard, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], Toll Free at [phone], or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.