Presidium Acquired by Blackboard
Edison Exits VA-based Education Leader
Lawrenceville, NJ (Vocus/PRWEB) January 13, 2011
Edison Ventures announces Blackboard has acquired Presidium based in Reston, VA. Edison received over $20 million in proceeds generating 35% IRR.
Presidium pioneered and leads the Education Services Management market. The company provides enrollment, financial aid and educational technology services. Presidium supports over 750 education institutions including colleges, publishers, K-12 districts, virtual schools, software companies, and e-Learning organizations.
“We are grateful to CEO Greg Davies and Presidium’s management team who combined domain expertise and consistent execution to build a rapidly growing market leader,” commented Sever Totia, Edison Principal. “Entrepreneurial dedication, innovation and exceptional customer support enabled Presidium to lead the market and outpace competitors.”
Sever Totia served on Presidium’s Board with Edison Director Network member David Bosserman, COO & CFO of N. E.W. Bosserman is former CFO of Best Software which generated 25X return for Edison.
Edison has invested in 12 Education Technology companies. Successful exits include Assessment Systems, MathSoft, Nobel Learning, Richardson, Skills Bank and TetraData. Current portfolio companies include ClearPoint, eChalk and Regent.
Edison has invested in 19 Virginia based companies including CorasWorks, Fishbowl Marketing, Innovectra, Liberty Tax and Telarix. Successful exits include BTG, International Telesystems, MEI, POMS and Relay.
About Edison Ventures
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to expansion stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as the sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, McLean, VA, New York, NY and Needham, MA. Industry specialties include application software, communications, financial technology, interactive marketing, healthcare & pharmaceutical IT. Edison’s successes include Axent, Dendrite, E-transport, Gain Capital, Princeton Financial, Virtual Edge, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $550 million under management and is actively making new investments. http://www. edisonventures. com
About Blackboard Inc.
Blackboard Inc. is a global leader in enterprise technology and innovative solutions that improve the experience of millions of students and learners around the world every day. Blackboard's solutions allow thousands of higher education, K-12, professional, corporate, and government organizations to extend teaching and learning online, facilitate campus commerce and security, and communicate more effectively with their communities. Founded in 1997, Blackboard is headquartered in Washington, D. C., with offices in North America, Europe, Asia and Australia.
About Presidium Inc.
Presidium, the Education Service Management company, provides managed services to improve the student experience and support academic technology and learning-based enterprises through industry leading processes, technology, and people. The managed contact center provides privately branded and managed technical, instructional, and student services support as well as survey and evaluation technologies via phone, web - support portal and knowledge base, as well as chat-based support infrastructure. These solutions provide an important foundation for e-Learning success, measured via technology adoption and completion rates, user satisfaction, retention, and maximizing capacity utilization for education technology. Presidium provides comprehensive student relationship management services for the higher education community, and offers diversified managed services for many industry-leading organizations in higher education, K-12, and for-profit education. http://www. presidiumlearning. com
Edison Ventures Contact:
Tricia Bradley
609-873-9224 (direct)
609-896-0066 (fax)
Tricia(at)edisonventures(dot)com
###
