Cloud software giant Blackbaud has acquired social impact technology company Everfi for $750 million in a cash and stock deal.
Blackbaud — which provides cloud software services to nonprofits, higher education institutions, K–12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations and companies — will give Everfi shareholders about $450 million in cash and $300 million worth of company common stock.
The Washington D.C.-based Everfi specializes in “impact-as-a-service,” providing cloud-based software and other tools to private, public and social sector organizations. Everfi also works with corporations on environmental, social and governance (ESG) and corporate social responsibility (CSR) goals.
