Blackbaud, a provider of software and services for nonprofits, has completed its acquisition of struggling competitor Kintera.
The $46 million cash deal, which includes all Kintera shares at a price of $1.12 each, marks the fifth acquisition by Blackbaud in less than three years.
Based in San Diego, Kintera has about 4,000 nonprofit and government customers and reported a loss of $15.8 million in 2007 on revenues of $44.9 million.
The purchase will expand Blackbaud’s service offering through Kintera’s online Sphere technology platform, which is used to manage fundraising events for clients, including the American Lung Association and Sesame Workshop.
Based in Charleston, S.C., Blackbaud has more than 1,700 employees and 19,000 customers, including the American Red Cross and the Arthritis Foundation, and for 2007 posted income of $31.7 million on revenues of $257 million.
Kintera will continue to be led by Richard LaBarbera, its president and CEO.