Washington, DC — Blackboard, the DC-based developer of educational software, is in advanced talks to be acquired by buyout firm Providence Equity Partners, with a deal potentially being announced as early as next week, The Wall Street Journal reported Friday.

The news comes two months after the company retained Barclays Capital as a financial advisor after receiving an unsolicited takeover bid from an unidentified suitor.

Blackboard, one of the DC region’s most successful venture-backed companies, is one of the largest providers of software to schools and universities. Founded in 1997, it currently has a market capitalization of around $1.4 billion.

Related Links: (WSJ)