CHARLESTON, S.C. -- Blackbaud, Inc. (NASDAQ: BLKB), the leading provider of software and related services designed specifically for nonprofit organizations, announced today that it has completed the acquisition of Kintera®, Inc., the leader and pioneering provider of Software as a Service (SaaS) solutions to the nonprofit and government sectors. Upon the closing of the acquisition, all remaining outstanding Kintera shares that were not tendered prior to the expiry of the tender offer were converted into the right to receive $1.12 per share in cash. As a result of the transaction, Kintera has become a wholly-owned subsidiary of Blackbaud.
"The addition of Kinteras expertise in SaaS and donor acquisition to Blackbauds leadership in donor cultivation and engagement is very exciting for us and for the nonprofit sector as a whole, said Marc Chardon, Blackbaud's chief executive officer. Nonprofits are being faced with increasingly complex mission requirements and with donors who want instant, direct involvement. Internet-focused technology can provide those new levels of flexibility and immediacy that are critical for sustainable growth.
Expanding Blackbauds set of online offerings in this way furthers our commitment to providing the best in Internet solutions and services that we have been delivering for nearly a decade, and Blackbaud will provide a roadmap regarding the integration of Kintera products in the near future. We are dedicated to empowering the 4500 nonprofits that use our Internet solutions with optionsboth in deployment and in interoperabilitythrough our open APIs, and through the solutions rapidly expanding developer networks.