Today, Blackboard Transact acquired Sequoia Retail Systems, taking a major step forward in our leadership in innovation, commitment to exceeding client expectations and transformation of the student experience. Sequoia is a leader in comprehensive point-of-sale (POS) and retail bookstore solutions exclusively dedicated to institutions of higher education.
Yesterday, Sequoia was one of our most valued and respected partners. Today, I am proud to say they are family. The acquisition of our long-time partner makes sense on so many levels. For years, many have said that it would be natural for us to come together because we would have unparalleled capabilities to serve the education community. Together, we are an elegant fit in that we take pride in how we serve our clients, care for students, and hold ourselves accountable.
Today marks a new chapter in our collective history. Our future takes flight fueled by our passion, creativity, innovation, and our commitment to empowering our clients, while making a meaningful difference in the lives of students they serve.
For more specifics about the acquisition, please review our press release.