Dechert Advises Blackboard Subsidiary in Acquisition of Higher One
June 30, 2016
Dechert LLP advised Winchester Acquisition Corp., a newly formed subsidiary of Blackboard Inc., the world’s leading education technology company, in its acquisition of Higher One, a leading payments technology provider for higher education, for $5.15 in cash per share.
The all-cash sale price represents a 37.3% premium over the closing price of the Higher One Holdings shares on June 29, 2016 and an equity value of $260 million. The acquisition will allow for future integration of Higher One’s CASHNet platform with the Blackboard Transact business line. The deal is subject to customary conditions and is expected to close in the third quarter of 2016.
The Dechert team advising Acquisition Corp. was led by Chicago-based partner David Kistenbroker and Philadelphia-based partner Ian Hartman, with assistance from associates Michael Darby, Geneva Brown, Stephanie Haas in Philadelphia, and Bernardo Piereck in Washington, DC.
Read the official press release “Higher One Announces Sale to Blackboard Affiliate for $5.15 Per Share.”
About Dechert
Dechert is a global specialist law firm with a deep bench of experts focused on sectors with the greatest complexities and highest regulatory demands. We deliver practical commercial insight and judgment to our clients’ most important matters. Nothing stands in the way of giving clients the best of the firm’s entrepreneurial energy and seamless collaboration in a way that is distinctively Dechert.
Related Professionals
