Blackbaud Acquires Kintera

Blackbaud announced yesterday that it is acquiring Kintera in an all-cash purchase price of approximately $46.0 million. Via press release:

Marc Chardon, Blackbaud's President and Chief Executive Officer, said, "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 market with proven and rich online product functionality. We are also pleased to offer new options to Kintera’s accounting and wealth data customers. P!N™ has been innovative in coupling traditional wealth screening services with online offerings and we are excited about the potential of combining these offerings with Target Analytics’ current product portfolio. Likewise, Fundware® has long met the fund accounting needs of many nonprofits and we expect to work closely with Kintera and their partners to enhance the range of solutions available to this important set of customers.”

Kintera will continue to be led by its current President and Chief Executive Officer, Richard LaBarbera. Kintera operations will continue to be directed from their existing offices in San Diego.