{"id":17409,"date":"2024-04-15T09:20:44","date_gmt":"2024-04-15T13:20:44","guid":{"rendered":"https:\/\/www.blackbaud.com\/?post_type=news&p=17409"},"modified":"2024-04-15T09:20:44","modified_gmt":"2024-04-15T13:20:44","slug":"blackbaud-to-review-unsolicited-proposal-from-clearlake-capital-group","status":"publish","type":"news","link":"https:\/\/www.blackbaud.com\/newsroom\/article\/blackbaud-to-review-unsolicited-proposal-from-clearlake-capital-group","title":{"rendered":"Blackbaud to Review Unsolicited Proposal from Clearlake Capital Group"},"content":{"rendered":"

Charleston, S.C. (April 15, 2024)<\/b> <\/span>\u2014 Blackbaud<\/span><\/a> (NASDAQ: BLKB), the leading provider of software for powering social impact, today confirmed that it has received an unsolicited, non-binding proposal from Clearlake Capital Group, L.P., a current stockholder of the Company, to acquire all of the outstanding shares of Blackbaud for $80.00 per share in cash.<\/span><\/p>\n

Consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, the Blackbaud Board of Directors will carefully evaluate the proposal to determine the course of action that it believes is in the best interest of the Company and all Blackbaud stockholders.<\/span><\/p>\n

Blackbaud stockholders are not required to take any action at this time.<\/span><\/p>\n

About Blackbaud
\n<\/b><\/span>Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud\u2019s essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud\u2019s solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek\u2019s list of America\u2019s Most Responsible Companies, Quartz\u2019s list of Best Companies for Remote Workers, and Forbes\u2019 list of America\u2019s Best Employers. A remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa Rica and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com<\/span><\/a> or follow us on X\/Twitter<\/span><\/a>, LinkedIn<\/span><\/a>, Instagram<\/span><\/a> and Facebook<\/span><\/a>.<\/span><\/p>\n

Investor Contact
\n<\/b><\/span>IR@blackbaud.com<\/a><\/span><\/p>\n

Media Inquiries
\n<\/b><\/span>media@blackbaud.com<\/a><\/span>\u00a0<\/span><\/p>\n

Barrett Golden \/ Jamie Moser \/ Melissa Johnson
\n<\/span>Joele Frank, Wilkinson Brimmer Katcher
\n<\/span>+1 212-355-4449<\/span><\/p>\n

Forward-looking Statements
\n<\/b><\/span>Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organization; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC\u2019s website at www.sec.gov or upon request from Blackbaud’s investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.<\/span><\/p>\n

\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Blackbaud Board of Directors will carefully evaluate the proposal to determine the course of action that it believes is in the best interest of the Company and all Blackbaud stockholders.<\/p>\n","protected":false},"author":9,"featured_media":14817,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"news-category":[480],"news-topic":[],"class_list":["post-17409","news","type-news","status-publish","has-post-thumbnail","hentry","news-category-press-releases"],"acf":[],"yoast_head":"\nBlackbaud to Review Unsolicited Proposal from Clearlake Capital Group - Blackbaud<\/title>\n<meta name=\"description\" content=\"The Blackbaud Board of Directors will carefully evaluate the proposal to determine the course of action that it believes is in the best interest of the Company and all Blackbaud stockholders.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.blackbaud.com\/newsroom\/article\/blackbaud-to-review-unsolicited-proposal-from-clearlake-capital-group\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackbaud to Review Unsolicited Proposal from Clearlake Capital Group\" \/>\n<meta property=\"og:description\" content=\"The Blackbaud Board of Directors will carefully evaluate the proposal to determine the course of action that it believes is in the best interest of the Company and all Blackbaud stockholders.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.blackbaud.com\/newsroom\/article\/blackbaud-to-review-unsolicited-proposal-from-clearlake-capital-group\" \/>\n<meta property=\"og:site_name\" content=\"Blackbaud\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/blackbaud\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.blackbaud.com\/wp-content\/uploads\/2023\/11\/Newsroom-Header.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2792\" \/>\n\t<meta property=\"og:image:height\" content=\"1136\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@blackbaud\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.blackbaud.com\/newsroom\/article\/blackbaud-to-review-unsolicited-proposal-from-clearlake-capital-group\",\"url\":\"https:\/\/www.blackbaud.com\/newsroom\/article\/blackbaud-to-review-unsolicited-proposal-from-clearlake-capital-group\",\"name\":\"Blackbaud to Review Unsolicited Proposal from Clearlake Capital Group - 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