Blackbaud (BLKB) Acquires Kintera (KNTA) for $46M in Cash
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Blackbaud, Inc. (NASDAQ: BLKB) today announced that it is acquiring Kintera, Inc. (NASDAQ: KNTA) for $46 million in an all-cash transaction. Blackbaud expects to finance the deal with cash and borrowings from its credit facility.
Kintera's principal offering is its online Sphere(R) technology platform, which is used by such leading organizations as American Lung Association, Big Brothers Big Sisters of America, International Fund for Animal Welfare, Lance Armstrong Foundation and Sesame Workshop to manage online fundraising events and in 2007 processed over $400 million in online gifts.
Blackbaud, Inc. provides software and related services for nonprofit organizations.
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