Paul Clolery at The Nonprofit Times reported earlier this week on yet another consolidation in the online fundraising arena:
Nonprofit software provider Blackbaud has made its second major acquisition this year, buying online donor management and advocacy tool eTapestry. During the past two years Blackbaud has spent more than $90 million on acquisitions in the nonprofit software and advocacy marketplace.
The eTapestry deal further consolidates the online advocacy message delivery and fundraising market. Convio in Austin, Texas acquired GetActive Software of Berkeley, Calif., earlier this year.
Blackbaud will pay $24.8 million for eTapestry and up to another $1.5 million under a two-year, stock-based performance incentive arrangement. eTapestry had unaudited revenue of approximately $7 million for 2006, according to a Blackbaud spokesperson. The company did not make any of their executives immediately available for interview but did provide statements.
Blackbaud's stock price surged 10% following Monday's news.
Maybe Blackbaud would be interested in buying this blog? I'd be a lot cheaper than $25 million. If you want to read more about the acquisition, go here.