Estimated reading time: 0 minutes, 33 seconds
BLACKBAUD BUYING CONVIO
Nonprofit specialist Blackbaud is acquiring Convio, which makes Internet-based applications for nonprofit organizations. The deal is being accomplished as a merger with Blackbaud offering $16 per share for Austin, Texas-based Convio, giving it a value of about $275 million.
Blackbaud will use cash and debt to finance the purchase. In a prepared statement, Blackbaud CEO Marc Chardon said the combined company has trailing 12-month pro forma revenue of about $440 million. Convio's product enables NFPs to use the Internet and social media as channels for constituent engagement and fundraising. The company claims more than 1,500 customers in the United States, Canada and the United Kingdom. Gene Austin, Convio's president and CEO, will report to Chardon.
Most Read
-
-
May 22 2017
-
Written by mark
The last year has been one of change—the cloud has…
-
-
-
May 22 2017
-
Written by BobWScott
The last year has been one of change—the cloud has…
-
-
-
May 19 2021
-
Written by BobWScott
Just what kind of year has it been for the…
-
-
-
May 25 2016
-
Written by mark
Annual Report: 2016 BSI Top 100 VARs The web has…
-