Nonprofit software firm Blackbaud Inc. has announced plans to acquire the U.K.-based online fundraising services provider JustGiving, whose online social giving platform has played a powerful role in the growth of peer-to-peer fundraising.
Under the purchase agreement for the transaction, Blackbaud will acquire all of the outstanding equity interests of JustGiving for an aggregate purchase price of £95 million, or about $121 million.
According to Blackbaud, the acquisition comes as social and mobile giving continue to grow and fundraising driven by peer-to-peer fundraising plays a significant and growing role in charitable giving. JustGiving has been a leader in peer-to-peer fundraising for both nonprofit organizations as well as individuals, with people in 164 countries raising over $4.5 billion for good causes through its online platform since 2001, the firm said.
The company said the acquisition will enhance Blackbaud’s capabilities to serve both individual donors and nonprofits, expanding the peer-to-peer fundraising capabilities Blackbaud currently offers through its TeamRaiser and everydayhero platforms, which are used by leading nonprofit organizations to connect their causes to the individuals who support them. The acquisition will also add a new personal crowdfunding capability that can be rolled out in the United States as it has in the U.K. market.
For more information, visit http://www.blackbaud.com.