Cloud software company Blackbaud Inc. announced on June 26th an agreement to acquire online social fundraising platform JustGiving that is based in the United Kingdom. The agreement places the aggregate price of the purchase at £95 million for every equity interest involved with JustGiving, with room for adjustments.
Blackbaud Inc. uses their cloud software to empower and connect corporations, nonprofits, education institutions, individual change agents, and foundations working towards social good. Together with tech-for-good company JustGiving, dedicated to developing tools and technology to connect people to causes they care about, Blackbaud gains personal crowdfunding capabilities to better serve nonprofits and individual donors.
Blackbaud’s president and general manager of Consumer Solutions, Jerry Needel, spoke about the agreement in a press release, saying, “Today, people are willing to do more than ever before to support causes they care about, but they want to do it on their own terms. Bringing JustGiving into the Blackbaud family reinforces our strong commitment to catalyzing the impact of individual change agents.”
Although the agreement was formally announced today, the acquisition agreement was definitive as of June 23rd, with the transaction expected to close later in the year pending a U.K. customary regulatory review. When this review concludes, Blackbaud plans to transfer the JustGiving staff to Blackbaud’s London-based International Markets Group.
