$116M in cash for fellow educational technology by Blackboard, Washington

Blackboard Inc. on July 7, 2010 mentioned that it is to buy fellow educational technology companies Elluminate Inc. and Wimba Inc. for $116 million in cash. It was reported that acquisitions will be used by Blackboard to form an education platform called Blackboard Collaborate. Elluminate is based in Calgary, Alberta, while Wimba is based in New York. Blackboard expects the deal will close in August.