Blackbaud, Inc. (Nasdaq: BLKB), a Charleston, South Carolina-based provider of software and services for nonprofits, is to acquire MicroEdge, LLC, a New York City-based provider of mission-critical software solutions for the philanthropic giving community, for $160m.
The acquisition, whose closing is expected to occur in the fourth quarter of 2014, subject to customary closing conditions, aims to expand Blackbaud’s offerings in the philanthropic giving sector with MicroEdge’s technology solutions for grantmaking, corporate social responsibility and foundation management.
Led by CEO Kristin Nimsger and backed by Vista Equity Partners and Bregal Sagemount, MicroEdge offers solutions for the giving community to organize and measure their acts of charitable giving. The company recently launched an employee engagement platform that supports employee giving, volunteerism, and other CSR initiatives. It currently serves thousands of community, education, independent, family, faith-based and other foundation clients.
Led by president and CEO Mike Gianoni, Blackbaud works with more than 30,000 customers in over 60 countries offering cloud-based and on-premise software solutions and related services including fundraising, eMarketing, advocacy, constituent relationship management (CRM), financial management, payment solutions, analytics, education solutions and vertical-specific solutions. The company has operations in the United States, Australia, Canada, the Netherlands, Ireland and the United Kingdom.
FinSMEs
02/09/2014