ANGEL Learning Sold

The Indianapolis Business Journal (and others) reported yesterday on the sale of local web-based teaching and learning tools developer ANGEL Learning for $95M to Blackboard.

On the surface, this looked like good news. Indiana University, a major investor, will walk away with more than $20M. But closer scrutiny of the story and the comments (a perpetual source of the other perspective), yields this information:

• There will be layoffs, despite the fact that it's downplayed in the article.
• The Indianapolis area is losing potential for future growth and high-paying local employment.
• Some feel that Blackboard's products are inferior, which will in the end hurt the customers.

One of the reasons I felt this was important to mention on this blog is that more and more publishers are partnering with firms like ANGEL to get their content into schools. The other reason is that at least two people I used to work closely with at Macmillan are now at ANGEL. I am wondering how this will impact them.

Thoughts?