# Blackbaud to acquire Convio

- Link: https://fundraising.co.uk/2012/01/17/blackbaud-acquire-convio/
- Published: 2012-01-17T11:57:59+00:00
- Author: Howard Lake

Blackbaud, Inc. is to acquire Convio, Inc having “entered into a definitive merger
agreement” with the company.

![](https://www.fundraising.co.uk/files/images/news/blackbaud_convio.jpg)

According to Blackbaud, the acquisition of Convio “will combine the two companies’
strengths to accomplish a common mission, making multi-channel supporter engagement
a reality, at a faster pace than either company could achieve on its own”. The company
says that Convio’s expertise in online and social fundraising will complement Blackbaud’s
expertise.

Under the terms of the agreement, Blackbaud will acquire all outstanding shares 
of common stock of Convio for $16.00 per share, valuing Convio at approximately 
$275 million. Blackbaud will finance the deal through a combination of cash and 
debt.

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The board of directors of both companies have unanimously approved the transaction.

The acquisition is expected to be completed by the end of the first quarter of 2012.

Marc Chardon, Blackbaud’s President and CEO, said, “We are extremely excited to 
announce our agreement to acquire Convio, which is a significant event for both 
companies. We fully expect that Convio’s best-in-class, SaaS-based capabilities 
for large events, advocacy and federated organizations will enable Blackbaud to 
offer the industry’s most diverse and flexible set of online capabilities on a global
basis”.

[Convio](http://www.convio.com) has over 1,500 customers in the US, Canada and the
UK, including 29 of the top 50 U.S. charities. In 2010, Convio’s U.S. clients used
its software and services to raise more than $1.3 billion online.

Gene Austin, Convio’s President and CEO, will take on a leadership role at Blackbaud,
reporting to Marc Chardon.

Marc Chardon explains the planned acquisition:

 https://www.youtube.com/watch?v=P17QBGDNteA

www.blackbaud.com