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Blackbaud to acquire Kintera
In a major shakeup of the nonprofit platform services sector, Blackbaud has announced plans to acquire the ailing giant Kintera. Kintera has been plagued with poor financial performance in recent quarters, and a buy-out deal was not unexpected.
Under the deal with Blackbaud, Kintera’s primary platform offering, Kintera Sphere with more than 4,000 subscribers, will continue to operate, and will be aligned with Blackbaud’s own online toolset, including Netcommunity, to provide a wider variety of available applications.
According to Blackbaud CEO “Expanding Blackbaud’s online offering in this way further establishes Blackbaud as the leading solutions partner for nonprofit organizations. The online solutions of the two companies have historically served different segments of the market and this acquisition gives us the ability to broaden our addressable market with proven and rich online product functionality.”
Posted by npmatrix on June 3rd, 2008 at 05:12pm
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