The academic tech company Blackboard announced lat last week that it has accepted a buy out offer.

Founded in 1997, Blackboard is a global leader in learning solutions that improve the experience of students and learners around the world. Blackboard’s technologies allow thousands of colleges, public and private schools, as well as corporate and government organizations to extend teaching and learning online, facilitate campus commerce and security, and communicate more effectively with their communities.

Among Blackboard’s many business partners is Barnes & Noble. Blackboard provides the server software that integrates B&N’s NookStudy app with Blackboard’s other services.  This integration increases the ability of students and teachers to work together effectively and boost the learning potential.

The deal was put together by Providence Equity Partners, and the all-cash transaction is worth approximately $1.6 billion. Blackboard’s stockholders will receive $45 per share, which is about $.90 more than the current trading price.