Cloud-based constituent relationship management vendor Blackbaud has completed its acquisition of Convio, a provider of on-demand constituent engagement solutions.
The deal, which is worth approximately $325 million, will be funded through a combination of cash and borrowings from its credit facility.
Blackbaud plans to support Convio’s current offerings, and the companies’ combined research and development (R&D) teams will work with customers to improve and extend current products and build new offerings.
“Together, we can build better solutions for nonprofits, and that’s what drives us,” said Marc Chardon, Blackbaud’s chief executive officer. “Convio’s strengths in online and social marketing, and subscription and Cloud-based offerings complement ours, and will accelerate our ability to deliver more to the nonprofit sector.”
Convio has over 1,500 customers in North America and the UK, including 29 of the top 50 US charities.