Blackbaud to acquire Kintera
Blackbaud Inc., a software provider for nonprofit organizations, will acquire Kintera Inc. for $46 million.
Kintera offers a software-as-a-service solution to the nonprofit and government sectors that is used by organizations such as the American Lung Association, Big Brothers Big Sisters of America and Sesame Workshop to manage online fundraising events. It has approximately 4,000 customers and reported $44.9 million in revenue for 2007.
“The online solutions of the two companies have historically served different segments of the market and this acquisition gives Blackbaud the ability to broaden its addressable market with proven and rich online product functionality,” said Marc Chardon, president and CEO at Blackbaud, in a statement.
Kintera will continue to be led by its current president and CEO, Richard LaBarbera, and its operations will continue to be directed from their existing offices in San Diego.