{"id":1411,"date":"2012-05-07T15:11:00","date_gmt":"2012-05-07T15:11:00","guid":{"rendered":"http:\/\/cloudnewsdaily.com\/?guid=2058dee5a32a05c531f9c47637becbc2"},"modified":"2012-05-07T15:11:00","modified_gmt":"2012-05-07T15:11:00","slug":"blackbaud-acquires-convio","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/blackbaud-acquires-convio\/","title":{"rendered":"Blackbaud Acquires Convio"},"content":{"rendered":"<\/p>\n

Blackbaud, Inc. today announced that it has completed its acquisition of Convio, Inc., a leading provider of on-demand constituent engagement solutions. Under the terms of the merger agreement, Blackbaud paid an aggregate purchase price of approximately $325 million. Blackbaud financed the deal through a combination of cash and borrowings from its credit facility. <\/span><\/p>\n

\u201cThis is an exciting day for the Blackbaud and Convio teams. Together, we can build better solutions for nonprofits, and that\u2019s what drives us,\u201d said Marc Chardon, Blackbaud\u2019s chief executive officer. \u201cConvio\u2019s strengths in online and social marketing, and subscription and cloud-based offerings complement ours, and will accelerate our ability to deliver more to the nonprofit sector.\u201d<\/p>\n

\u201cHaving worked with both Convio and Blackbaud over the past few years, we are pleased to see this new development,\u201d said Major George Hood, National Community Relations Secretary for The Salvation Army. \u201cBeing able to work with one vendor across multiple channels of engagement will be a benefit to The Salvation Army, and we are confident Blackbaud will continue to help us more effectively engage with our donors and supporters.\u201d<\/p>\n

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Originally announced on January 17, 2012, the acquisition followed the completion of the tender offer Blackbaud made through its wholly owned subsidiary, Caribou Acquisition Corporation, for all the outstanding shares of Convio common stock for $16 per share, net to the seller in cash, without interest and less any applicable withholding taxes. Immediately prior to the merger, Caribou Acquisition Corporation held approximately 90.4% of Convio\u2019s outstanding common stock. As a result, Blackbaud was able to complete a \u201cshort-form\u201d merger under Delaware law where all outstanding shares of Convio common stock that were not previously tendered (other than shares held by Caribou Acquisition Corporation or Convio stockholders that properly exercise appraisal rights under Delaware law) were converted into the right to receive the same consideration paid to stockholders in the tender offer. Blackbaud assumed Convio equity awards that were unvested as of closing. Convio\u2019s common stock has ceased trading on the Nasdaq Global Select Market.<\/p>\n

Blackbaud plans to support Convio\u2019s current offerings, and the companies\u2019 combined research and development (R&D) teams will work with customers to improve and extend current products and build new offerings. Blackbaud plans to keep Convio\u2019s current office structure, adding key offices in the Bay Area and Austin. Gene Austin, Convio\u2019s former president and CEO, will lead the enterprise customer business unit at Blackbaud, reporting to Marc Chardon. \u201cWe are excited to work together to bring nonprofits the technology they need at a faster pace than either of us could have separately,\u201d said Austin.<\/p>\n

Easter Seals, an organization focused on providing exceptional services, education, outreach, and advocacy to people living with autism and other disabilities, has worked closely with both Blackbaud and Convio for nearly a decade. \u201cIn that time, each company has developed core, and in many cases distinct strengths, in the fundraising and marketing arenas,\u201d said Steve Bergman, Easter Seals\u2019 CIO. \u201cBlackbaud\u2019s acquisition of Convio will hasten the creation of new products that could enhance the effectiveness of nonprofits like Easter Seals.\u201dMexico, the Netherlands, and the United Kingdom.<\/p>\n

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Combination of Blackbaud and Convio will propel technology innovation for nonprofits CHARLESTON, S.C.–(BUSINESS WIRE)–Blackbaud, Inc. (NASDAQ: BLKB) today announced that it has completed its acquisition of Convio, Inc., a le…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[265,266,216,139],"tags":[],"class_list":["post-1411","post","type-post","status-publish","format-standard","hentry","category-blackbaud","category-convio","category-education","category-ma-activity"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/1411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=1411"}],"version-history":[{"count":0,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/1411\/revisions"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=1411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=1411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=1411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}