Blackbaud, Inc. (ticker: BLKB, exchange: NASDAQ Global Market (.O))
News Release -
Blackbaud Announces Acquisition of Everyday HeroWill invest in growing Australia's leading peer-to-peer fundraising
CHARLESTON, S.C., Oct 06, 2011 (BUSINESS WIRE) --
Blackbaud, Inc. (NASDAQ: BLKB)
today announced that it has acquired Everyday
Hero, a privately-owned company based in Brisbane, Australia.
Everyday Hero's event fundraising tools are used by tens of thousands of
individual fundraisers and 1400 customers in Australia, New Zealand, and
the United Kingdom.
"This strategic international expansion of our online fundraising
portfolio through the acquisition of Everyday Hero helps us to offer the
most comprehensive suite of interactive solutions for nonprofits
worldwide," said Brad Holman, Blackbaud's president, international
business unit. "We are excited to invest in the growth and development
of this powerful fundraising solution and to help extend its reach so
even more individual and peer-to-peer fundraisers can get involved in
supporting great causes around the world."
The 27-person Everyday Hero staff will continue to serve its growing
customer base of leading nonprofit fundraising events in Australia and
will continue to grow Everyday Hero's presence in Asia-Pacific and the
UK. Blackbaud will continue to grow Everyday Hero's product offerings.
To better serve Everyday Hero customers with Blackbaud fundraising and
donor management solutions, Blackbaud plans to integrate data between
Everyday Hero and The Raiser's Edge(R) and eTapestry(R).
Data integration is expected to be available in the coming months and to
be initially launched in Australia, New Zealand, and the UK. Everyday
Hero will continue to work with non-Blackbaud customers seeking to
integrate data from the Heroix platform.
"We're poised for growth in Asia-Pacific, the UK, and globally and we're
excited that Blackbaud chose us to help grow its international
individual and peer-to-peer fundraising offerings," said Nathan
Betteridge, Everyday Hero's CEO. "We are even more excited about what
this means for our nonprofit partners and the thousands of fundraisers
currently using our platform and the value it will bring them."
Under the terms of the agreement, Blackbaud paid approximately AUD $7.6
million for the company. Blackbaud does not expect the acquisition to
have a material impact on revenue or non-GAAP profitability for the
fourth quarter or full year 2011.
Blackbaud is the leading global provider of software and services
designed specifically for nonprofit organizations, enabling them to
improve operational efficiency, build strong relationships, and raise
more money to support their missions. Approximately 24,000 organizations
-- including The American Red Cross, Cancer Research UK, Earthjustice,
International Fund for Animal Welfare, Lincoln Center, The Salvation
Army, The Taft School, Tulsa Community Foundation, Ursinus College, the
WGBH Educational Foundation, and Yale University -- use one or more
Blackbaud products and services for fundraising, constituent
relationship management, financial management, website management,
direct marketing, education administration, ticketing, business
intelligence, prospect research, consulting, and analytics. Since 1981,
Blackbaud's sole focus and expertise has been partnering with nonprofits
and providing them the solutions they need to make a difference in their
local communities and worldwide. Headquartered in the United States,
Blackbaud also has operations in Australia, Canada, Hong Kong, Mexico,
the Netherlands, and the United Kingdom. For more information, visit www.blackbaud.com.
Except for historical information, all of the statements, expectations,
and assumptions contained in this news release are forward-looking
statements that involve a number of risks and uncertainties. Although
Blackbaud attempts to be accurate in making these forward-looking
statements, it is possible that future circumstances might differ from
the assumptions on which such statements are based. In addition, other
important factors that could cause results to differ materially include
the following: general economic risks; uncertainty regarding increased
business and renewals from existing customers; continued success in
sales growth; management of integration of acquired companies and other
risks associated with acquisitions; risks associated with successful
implementation of multiple integrated software products; the ability to
attract and retain key personnel; risks related to our dividend policy
and share repurchase program, including potential limitations on our
ability to grow and the possibility that we might discontinue payment of
dividends; risks relating to restrictions imposed by the credit
facility; risks associated with management of growth; lengthy sales and
implementation cycles, particularly in larger organization;
technological changes that make our products and services less
competitive; and the other risk factors set forth from time to time in
the SEC filings for Blackbaud, copies of which are available free of
charge at the SEC's website at www.sec.gov
or upon request from Blackbaud's investor relations department. All
Blackbaud product names appearing herein are trademarks or registered
trademarks of Blackbaud, Inc.
SOURCE: Blackbaud, Inc.
Melanie Mathos, 843-216-6200 x3307