CHARLESTON, S.C. , June 26, 2017 /PRNewswire/ -- Blackbaud, Inc. (NASDAQ: BLKB ), the world's largest cloud software company powering nonprofits and other social good organizations, today announced that it has entered into an agreement to acquire United Kingdom-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 has agreed to acquire all of the outstanding equity interests of JustGiving for an aggregate purchase price of £95 million, subject to certain adjustments. The closing of the transaction is anticipated to occur at the conclusion of a customary regulatory review in the U.K. Blackbaud expects to finance the acquisition with cash on hand and borrowings under its existing credit facility.

The acquisition comes as social and mobile giving continue to grow and fundraising driven by individual supporters rallying others in their networks (referred to as "peer-to-peer fundraising" in the sector) 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 (also known as personal crowdfunding), with people in 164 countries raising over $4.5 billion for good causes through its online platform since 2001.

"Today, people are willing to do more than ever before to support causes they care about, but they want to do it on their own terms," said Jerry Needel, president and general manager of Blackbaud Consumer Solutions. "To put their passion into action, they need technology that gives them the power to connect with other change agents and organizations. Bringing JustGiving into the Blackbaud family reinforces our strong commitment to catalyzing the impact of individual change agents. It's also part of our commitment to helping social good organizations navigate and respond to key shifts in giving behavior ."

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