Blackbaud, Inc. (NASDAQ: BLKB) has recently announced the sale of its EverFi Inc. business to a private investment firm, unaffiliated with Blackbaud, for a nominal amount. The sale was closed on December 31, 2024, marking a significant development for the company.
Blackbaud's YourCause® portfolio and Impact Edge™ solution, which power corporate giving, volunteering, engagement, and impact reporting, will remain with Blackbaud. These components are a core part of the company's go-forward strategy as it enables purpose-driven companies to power their corporate impact initiatives.
The company will be sharing more details about this transaction in its next Form 10-K filing. This sale represents a strategic decision for Blackbaud, as it aims to focus on its essential software built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility, and education management.
Dale Strange, President of Corporate Impact at Blackbaud, stated that they are working closely with the buyer and the EverFi leadership team to ensure a seamless transition for EverFi's customers and employees. Despite the sale, EverFi remains well-equipped to support its customers by delivering educational courses on key topics such as financial literacy, wellness, compliance, and workplace training.
Blackbaud, a leading software provider exclusively dedicated to powering social impact, serves the nonprofit and education sectors, companies committed to social responsibility, and individual change-makers. With millions of users and over $100 billion raised, granted, or managed through Blackbaud's platforms every year, the company's solutions are unleashing the potential of the people and organizations who change the world.
Blackbaud has been recognized for its efforts, being named to Newsweek’s list of America’s most responsible companies, Quartz’s list of best companies for remote workers, and Forbes’ list of America’s best employers. The company operates in the United States, Australia, Canada, Costa Rica, India, and the United Kingdom, supporting users in 100+ countries. The market has reacted to these announcements by moving the company's shares 0.9% to a price of $74.56. For more information, read the company's full 8-K submission here.
