In a high-profile consolidation in the not-for-profit software arena, NFP vendor Blackbaud struck a deal to acquire struggling rival Kintera for roughly $46 million in cash, or $1.12 per share.The deal, which Blackbaud plans to finance with cash and its credit facility, was expected to close July 2.
Following the close of the deal, Kintera will operate as a division of Blackbaud from its home base in San Diego, where 146 of its 240 employees are located.
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