Blackboard and WebCT will soon merge

According to a post on Slashdot: "Blackboard will acquire WebCT in a cash transaction for $180 million, which values the offer at approximately $154 million, net of WebCT's August 31, 2005 cash balance of $26 million."

More details can be found on Blackboard's site. What will this mean? Does Blackboard have a monopoly? Will costs end up going up for educational institutions? Will the two systems be integrated? Do any other competitors out there have a chance?