Blackbaud acquired EVERFI for approximately $750 million in a transaction that included both cash and stock. This significant deal brought together two prominent leaders in the social impact technology sector.
Understanding the Acquisition Details
The acquisition of EVERFI by Blackbaud, a leading cloud software company focused on powering social good, was announced as a substantial investment to expand its capabilities in social impact education and technology. The payment was structured as a combination of cash and stock, indicating a strategic alignment and shared future vision between the entities. The final acquisition price was subject to certain customary adjustments.
Key Aspects of the Transaction
Here’s a breakdown of the primary elements of the acquisition:
| Detail | Description |
|---|---|
| Acquiring Company | Blackbaud (NASDAQ: BLKB) |
| Acquired Company | EVERFI |
| Transaction Value | Approximately $750 million |
| Payment Method | Cash and stock transaction |
| Adjustments | Subject to certain customary adjustments |
Companies Involved
- Blackbaud: Recognized as the world's leading cloud software company dedicated to powering social good, Blackbaud provides comprehensive software solutions for nonprofits, foundations, corporations, and individual change agents. Blackbaud is based in Charleston, S.C.
- EVERFI: A global social impact technology leader, EVERFI is known for its innovative educational technology platforms that address critical topics such as financial literacy, STEM readiness, and mental wellness. Its mission aligns closely with Blackbaud's broader commitment to social impact. EVERFI is based in Washington, D.C.
This acquisition strategically positions Blackbaud to further enhance its offerings and reach within the growing social impact technology landscape, leveraging EVERFI's expertise in educational content delivery to a broad audience.
