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Kintera Acquisition Completed by Blackbaud
 TMCnet Contributing Editor
Blackbaud today announced the completion of its tender offer by its wholly owned subsidiary, Eucalyptus Acquisition Corporation, at $1.12 net per share in cash for all the outstanding shares of common stock of Kintera ( News - Alert).
Blackbaud, Blackbaud…why is that company name reminding me of summer vacations near Cape Hatteras?
The tender offer expired at 12:00 midnight, New York City time, on Monday.
The depositary for the offer has advised Blackbaud and Eucalyptus Acquisition Corporation that, as of the expiration of the initial offering period, approximately 37.3 million shares were tendered, delivered, and not withdrawn in the tender offer. Those shares represent approximately 92 percent of Kintera’s outstanding shares as of the expiration of the initial offering period.
As of that time, approximately 750,000 additional shares, or another 1.8 percent, were tendered pursuant to guaranteed delivery procedures and are subject to delivery of the shares within three trading days after the date of the guarantee.
Blackbaud officials say they expect the company to effect, without a vote or meeting of Kintera stockholders, a “short-form” merger as soon as practicable to complete the Kintera acquisition. Following the acquisition, Kintera will become a wholly-owned subsidiary of Blackbaud. Following the merger, Kintera’s common stock will cease to be traded on NASDAQ.
Blackbaud sells software and services designed specifically for nonprofit organizations.
In May Marc Chardon, Blackbaud’s president and chief executive officer, said the acquisition of Kintera is “expanding Blackbaud’s online offering… and further establishes Blackbaud as a partner for non-profit organizations.”
Chardon said the two companies’ core capabilities are “complementary, and we expect to continue to offer a full range of products integrated with our suite of CRM products, including The Raiser’s Edge.”
Kintera’s “Friends Asking Friends” team fundraising and advocacy products are “well suited for organizations that use these programs to grow their base of supporters,” Chardon said, adding that Blackbaud’s Net Community’ offering is “suited for enriching the online experience of current donors enhancing the value of data that already exists in the CRM system.”
Kintera will continue to be led by its current president and chief executive officer, Richard Laborer, a high tech industry veteran with more than 30 years experience with such vendors as Sybase, Siemens/Nixdorf, Storage Technology and IBM ( News - Alert). Kintera operations will continue to be directed from their existing offices in San Diego.
David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.
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