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Convio
Big News: Blackbaud Purchases Convio
Jan 17th
UPDATE: Here is a video from Blackbaud announcing the acquisition.
UPDATE 2: Updated the blog post with new information.
We had some big news break in the nonprofit sector this morning, as Charleston, S.C.-based Blackbaud announced the acquisition of rival software firm Convio of Austin, Texas, for $275 million.
The acquisition would give the combined organizations an annual revenue of $440 million, free cash flow of $66.5 million, and net debt of $240 million. Blackbaud will acquire all outstanding shares of Convio's common stock for $16 per share. The purchase is expected to finalized during the first quarter of this year.
Some things to note about the acquisition:
UPDATE 2: Updated the blog post with new information.
We had some big news break in the nonprofit sector this morning, as Charleston, S.C.-based Blackbaud announced the acquisition of rival software firm Convio of Austin, Texas, for $275 million.
The acquisition would give the combined organizations an annual revenue of $440 million, free cash flow of $66.5 million, and net debt of $240 million. Blackbaud will acquire all outstanding shares of Convio's common stock for $16 per share. The purchase is expected to finalized during the first quarter of this year.
Some things to note about the acquisition:
- According to Jane Eggers, senior vice president of products and marketing at Blackbaud, only a "small handful of people" at the organization knew the acquisition was happening.
- Executives at both firms had been talking about a deal for years, but the timing wasn't right up until a few months ago.
- Convio President and CEO Gene Austin will join Blackbaud in a leadership post. He will report to Blackbaud President and CEO Marc Chardon.
- There was no mention about the future of Convio co-founder Vinay Bhagat. Eggers told NPT that it wasn't something she could speak to before the deal closes.
- The deal will be structured as a cash tender offer followed by a merger.
- Blackbaud will finance the transaction through existing cash balance, expansion and extension of the company’s current debt facility, as well as newly issued syndicated debt.
Ideas For Your Major Gift Ask
Dec 14th
Every nonprofit fundraiser's dream is to have a conversation with a major donor that goes so well, that the person writes you a check immediately. Too bad it's rarely that easy.
Yes, the major gift ask is one of those things that gets even experienced fundraisers a little antsy. It's all too easy for nerves to lead you to a critical error that can ruin the whole process. And then there's the second guessing. Did you ask too much? Too little? You'll drive yourself crazy if you allow these thoughts to take control. The reality is it's totally natural to have a little fear before prospecting for a major gift.
According to Rachel Muir, client strategy executive at Austin, Texas-based Convio, how you handle that fear will determine your success. She let The NonProfit Times in on some tips on how to better prepare for major gift asks:
We hope you have found these tips useful for your organization's prospecting efforts. Head to The NonProfit Times for more articles like this.
Yes, the major gift ask is one of those things that gets even experienced fundraisers a little antsy. It's all too easy for nerves to lead you to a critical error that can ruin the whole process. And then there's the second guessing. Did you ask too much? Too little? You'll drive yourself crazy if you allow these thoughts to take control. The reality is it's totally natural to have a little fear before prospecting for a major gift.
According to Rachel Muir, client strategy executive at Austin, Texas-based Convio, how you handle that fear will determine your success. She let The NonProfit Times in on some tips on how to better prepare for major gift asks:
- Make sure the prospect in question has been properly cultivated before asking for a major commitment. Think of it this way: You could ask someone to marry you on the first date, but it would be creepy and desperate. The same applies with your donors. You should be stewarding your donors with seven unique touches annually: a visit, a tour, prompt thank you’s, personal stories about your successes, newsletter, annual report, personal calls, etc. It's all about the courtship!
- Find out everything you can about your prospects. What are their interests? Where did they go to school? What are their giving patterns?
- Re-connect with your organization's mission. Why are you asking for money in the first place? Having a strong passion and commitment for your cause is a major selling point for donors.
- Consider doing your asks in pairs. Two is better than one, right?
- When it's time to make the ask, make sure it's in a setting where there will be minimal interruptions. You will want 20 to 30 minutes of the prospect's undivided attention. Suggestions for meetings spots could be their office or somewhere at your organization. Whatever you do, do not ask at a restaurant. This will guarantee you multiple interruptions.
- Describe the impact of your organization through the use of personal anecdotes. Focus on the benefit, impact, and vision.
- Do not use acronyms.
- Here's the most important thing to remember: After you make your ask, be silent. Give the prospect time to think. Continuing to talk after making your ask is a great way to talk yourself out of a gift.
We hope you have found these tips useful for your organization's prospecting efforts. Head to The NonProfit Times for more articles like this.
Convio Expands Across The Pond
Jul 5th
Just in time for Independence Day, Convio has announced plans to purchase the British company Baigent Digital. The Austin-based online fundraising and constituent management (CRM) firm, which serves more than 1,400 nonprofits, payed $2.9 million for Baigent, and may be on the hook for another $400,000 depending on the performance of the company.
Founded in 1997, Baigent is one of the UK's leading digital strategy, design and technology implementation firms. The current plan is for Convio to offer their fundraising services to British charities. At a later, yet to be determined date, they will offer additional services, including CRM.
You can get the full scoop on this story by visiting The NonProfit Times, or you can go to Convio.com for even more info.
Founded in 1997, Baigent is one of the UK's leading digital strategy, design and technology implementation firms. The current plan is for Convio to offer their fundraising services to British charities. At a later, yet to be determined date, they will offer additional services, including CRM.
You can get the full scoop on this story by visiting The NonProfit Times, or you can go to Convio.com for even more info.
Nonprofit Giants Make Deals To Improve Donor Data
Feb 17th
Three of the most prominent companies in the fundraising business are in the process of growing even further and providing more convincing evidence that data is king at the end of the day. Blackbaud, based in Charleston South Carolina, is a technology firm that markets financial and online fundraising software. The company spent $17.5 million to buy public interest data in Alexandria Virginia, which provides database management services, acquisition list services and data analytics and enrichment services for nonprofits. The Internet fundraising firm Convio, based in Austin Texas, announced that it will be spending at least $5 million in order to acquire Strategic One, an analytics predictive modeling and database marketing services company located in Kansas.
Strategic One touted itself in the innovative terminology of 'business intelligence', which refers to the collection, modeling and integration of fundraising and donor information. In each of these cases the companies agreed to pay as much as $2.5 million more depending on the relevant revenue objectives. In addition to these business developments, WealthEngine, based in Bethesda Maryland, a provider of wealth identification- and information-based fundraising solutions announced that it purchased and will put to use Oracle exit-data database machines. The upgrade is expected to dramatically improve the performance, user-friendliness and scalability of its wealth intelligence solutions. The financial information related to this deal has not been released.
Strategic One touted itself in the innovative terminology of 'business intelligence', which refers to the collection, modeling and integration of fundraising and donor information. In each of these cases the companies agreed to pay as much as $2.5 million more depending on the relevant revenue objectives. In addition to these business developments, WealthEngine, based in Bethesda Maryland, a provider of wealth identification- and information-based fundraising solutions announced that it purchased and will put to use Oracle exit-data database machines. The upgrade is expected to dramatically improve the performance, user-friendliness and scalability of its wealth intelligence solutions. The financial information related to this deal has not been released.
A Convio survey sheds light on fundraising statistics
Jan 20th
If you are interested to know what fund-raising figures look like for the year ahead, and what sorts of channels will be utilized in making donations, then you will definitely find this video to be informative. A new survey has recently been conducted by Convio that sheds light on what sorts of figures can be expected in the future, and what channels Americans will be making use of as it relates to their charitable contributions. According to the survey, approximately $48 billion will be donated in the year ahead across the full spectrum of donation channels including direct mail, online contributions and checkout counters at a variety of retail stores.
The positive impact of the nonprofit sector on the economy
According to a statement released by the president of the Association of fundraising professionals, these donation figures paint a pretty positive picture. Each year the nonprofit sector contributes 5% of GDP, and also provides employment for 10% of the American workforce. Fundraising initiatives, particularly the giving season at the end of the year, are incredibly important for ensuring the stability and success of the various organizations that comprise the nonprofit sector. The positive impact that the nonprofit sector has on the national economy as a whole can barely be overstated.
How and how much Americans are giving
The survey found that an average of $281 could be expected to be spread across two or more charitable organizations. Some of the primary giving channels include direct mail, as well as social networking infrastructures. As much as $6 billion is expected to be donated over the Internet. This figure represents a boost of 30% over the identical period in 2009. For those who are curious about what the fundraising landscape might look like over the coming year, this video sure to provide some useful information and insight.
The positive impact of the nonprofit sector on the economy
According to a statement released by the president of the Association of fundraising professionals, these donation figures paint a pretty positive picture. Each year the nonprofit sector contributes 5% of GDP, and also provides employment for 10% of the American workforce. Fundraising initiatives, particularly the giving season at the end of the year, are incredibly important for ensuring the stability and success of the various organizations that comprise the nonprofit sector. The positive impact that the nonprofit sector has on the national economy as a whole can barely be overstated.
How and how much Americans are giving
The survey found that an average of $281 could be expected to be spread across two or more charitable organizations. Some of the primary giving channels include direct mail, as well as social networking infrastructures. As much as $6 billion is expected to be donated over the Internet. This figure represents a boost of 30% over the identical period in 2009. For those who are curious about what the fundraising landscape might look like over the coming year, this video sure to provide some useful information and insight.
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