Thursday, May 29, 2008

Blackbaud, Inc. Announces Acquisition of Kintera

Charleston, S.C. – May 29, 2008 – Blackbaud, Inc. (NASDAQ: BLKB), the leading provider of software and related services designed specifically for nonprofit organizations, announced today that it is acquiring Kintera, Inc. (NASDAQ: KNTA), a pioneer and leading provider of a Software as a Service (SaaS) solution to the nonprofit and government sectors. Under the terms of the agreement, Blackbaud will pay an all-cash purchase price of approximately $46.0 million. Blackbaud expects to finance the deal with cash and borrowings from its credit facility.

Read the full press release here.

1 comment:

Peter Gulka said...

Craziness....

I have no idea if there is a Kintera User Society, but we at the Blackbaud User Society would be thrilled to have Kintera clients join us to get unofficial support for their products and join our growing community of Blackbaud clients and users.