Blackbaud Acquires Public Interest Data Inc., Provider of Database Services to Nonprofits
Charleston, S.C. (Feb. 1, 2011) — Blackbaud Inc. (Nasdaq: BLKB) today announced the acquisition of Public Interest Data Inc. (PIDI), an Alexandria, Va.-based company with more than 20 years experience providing database management services (DMS), acquisition list services, and data analytics and enrichment services for nonprofits. PIDI will become part of Blackbaud and will continue to serve its growing customer base of more than 50 of the leading nonprofit organizations in the United States from its existing Alexandria, VA and Miami Beach, FL offices.
Under the terms of the agreement, Blackbaud paid an aggregate purchase price of approximately $17.5 million, plus an additional amount of up to $2.5 million in contingent payments based upon performance of the acquired business through the two-year anniversary of the transaction. Blackbaud financed the deal with cash on hand. The acquisition will augment Blackbaud’s industry leading DMS business while providing incremental analytics capabilities in the area of donor acquisition list analytics.
“We look forward to leveraging our combined 50 plus years of experience in serving nonprofits to enhance and build upon PIDI’s direct marketing offerings,” said Marc Chardon, Blackbaud’s chief executive officer. “The combination was a natural fit as we continue to invest in new technology to enhance our current DMS services. We also look forward to providing PIDI’s market-leading merge purge and data services to our 24,000 existing customers and in turn, providing our new customers access to the market’s broadest suite of product and service offerings built for nonprofits.”
PIDI’s services primarily include database management services, similar to those currently provided by Blackbaud; and merge purge and data analytics services, which will add to Blackbaud’s industry-leading Target Analytics product offerings. Blackbaud will continue to support all of PIDI’s current offerings in addition to extending the company’s analytics services to best meet the needs of the combined company’s customer base.
“We share a client-first philosophy with Blackbaud and are pleased to become a part of the company to best serve our nonprofit customers,” said Shawn Cox, PIDI’s director of DMS. “We are confident that together, we can provide even better solutions to help nonprofits manage their complex fundraising and membership programs.”
The acquisition of PIDI is not expected to have a material impact on Blackbaud’s total revenue or non-GAAP profitability. Management will provide financial guidance, including PIDI’s expected contribution, on its fourth quarter 2010 earnings conference call scheduled for Monday, February 7th at 5 p.m. ET. Details for this call are available on the company’s investor relations site at www.blackbaud.com/investorrelations.