Blackbaud, a provider of software and services for nonprofits, has agreed to acquire Convio, a provider of on-demand constituent-engagement solutions for nonprofits, in a deal Blackbaud says is worth $275 million.
Under terms of the agreement, approved by the boards of both companies, Blackbaud will acquire all outstanding shares of common stock of Convio for $16 a share and will finance the deal through a combination of cash and debt.[More]