Edgewater Technology reiterated its plan to grow by acquisition as the company itself faced a hostile merger bid. That left executives on this week's third-quarter earnings webcast saying they would not answer questions about the bid from Ameri Holdings, but facing them from one analyst anyway. "We are going to do acquisitions in this space and we are increasing our channel marketing presence," CEO Shirley Singleton said during the webcast.

Blackbaud reported subscription revenue rose 12 percent for the third quarter ended September 30 as the move from license sales continues. Overall, the nonprofit software company reported net income dropped to $7.9 million for the most recently ended quarter, down 31.2 percent from $10.4 million a year earlier. However, for the same periods, non-GAAP earnings were $17.8 million, up 11.5 percent from $15.8 million.

Edgewater Technology, a Dynamics and Oracle partner, has reportedly rejected a bid from Ameri Holdings, which has begun a proxy solicitation of Edgewater's shareholders. Through Princeton, N.J.-based Ameri100, bidders are offering $8.50 share, but say Edgewater has refused to engage in discussions. Edgewater stock has a 52-week trading range of $6.21 to $8.28 per share. Ameri100 then joined with Lone Star Value Management to oust the Edgewater board. During this week's Edgewater earnings conference call, CEO Shirley Singleton said Edgewater has no comment and is reviewing the proposal.