From the AP:
Educational software maker Blackboard Inc. on Tuesday said it is working with Microsoft Corp. to integrate the companies’ software platforms.
The project is aimed at combining the Blackboard Community System with Microsoft’s SharePoint Portal Server for improved interoperability between Blackboard’s Academic Suite and Microsoft’s popular Office suite, the companies said. Blackboard’s software is used by schools for actions like scheduling classes, assigning homework and posting grades.
Shares of Blackboard surged to an all-time high after the news, climbing $2.96, or 12.4 percent, to $26.85 on the Nasdaq. The stock reached its previous 52-week high of $25.94 last October, and is up 81 percent so far this year.
Blackboard said it initiated the project with Microsoft in response to numerous requests from academic institutions using both Blackboard and SharePoint systems.
The Blackboard press release has more.
Update: Tom Taulli at The Motley Fool has some background.