Are you saying that everyone in management and engineering had been replaced and Blackboard is essentially a startup which happens to have inherited all the exciting contracts? If so, then maybe you stand a chance.

Otherwise, I'm sure you'll learn a lot from the attempt.

There is a lot of new people indeed (both managers and tech.) Quite a few startups were acquihired too. But I think most important factor - management openly concerned about competition and tries to push toward better product. And it appears to be much better timing too - institutions are more open to "cloud" today, than they were 10 years ago.

"Cloud" in the hands of a corrupt company... will not be good.