Kintera, Inc. (KNTA) To Be Acquired by Blackbaud, Inc. (BLKB)
Kintera, Inc. (NASD: KNTA) announced that they will be acquired by Blackbaud, Inc. (NASD: BLKB) in a cash tender offer for $1.12 per share, or a total price of $46.0 million. The acquisition makes sense since Kintera is a leader of on-demand solutions for nonprofit organizations in the United States, whereas Blackbaud is the leading provider of software and related services designed specifically for nonprofit organizations. At the closing of Friday's stock trading, Kintera's stock rose 58.82%. Kintera's current president and CEO, Richard LaBarbera, will continue with the company's operations in San Diego and their other locations, "Joining with Blackbaud…