Some of WebCT's salespeople left, but Blackboard was able to ensure ongoing client relationships without having to struggle to keep those clients.

FORBES: Leadership

Also, the people at WebCT didn't tend to feel their business was far superior to Blackboard, as many at Merrill felt about Bank of America.

FORBES: Leadership

Roderick kept an "Overweight" rating on the shares, encouraged by renewal rates above 90 percent and its purchase of rival WebCT, which it acquired in February 2006.

FORBES: Nails On The Blackboard