Estimated reading time: 0 minutes, 46 seconds

BLACKBAUD BUYING ED BIZ FOR $750M Featured

Nonprofit software vendor Blackbaud is buying Washington, D.C.-based Everfi, for $750 million in cash and stock. The deal is expected to add about $120 million to Blackbaud’s 2022 revenue.

The buy will push Blackbaud well past $1 billion ub revenue for 2020  as early this month the company reiterated 2021 revenue guidance of $920 million, a less than one-percent increase from $913.2 million for 2020. Everfi is described as having more than 45 million learners and is also said to educate corporate partners so they can measure the impact of environmental, social and governance and corporate social responsibility goals According to Blackbaud’s prepared statement, “EVERFI’s strong presence in the K-12 public school space complements Blackbaud’s strong presence in the K-12 private school and higher education markets. The purchase price is comprised by $450 million in cash and 3,844,423 shares of common stock, worth about $300 million. Blackbaud is supplying the cash through new borrowings and cash-on-hand. 

Read 430 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.