Clearlake Reportedly New Potential Bid for Blackbaud Not Surprising
April 10, 2024
Share
Clearlake Capital Group, L.P. new potential bid for Blackbaud, Inc. (NasdaqGS:BLKB) not surprising, says Stifel - Stifel notes that according to news reports, Clearlake -- Blackbaud's shareholder -- is in the process of speaking with advisors about a potential bid for the company. As a reminder, Clearlake put in a bid to acquire the company in March 2023, with that offer being rejected by the Board. Considering the recent termination of the company's poison pill, the firm isn't surprised to see the major shareholder potentially coming back to the table.
Stifel maintains a Hold rating on Blackbaud with a price target of $75 on the shares.
Blackbaud, Inc. is a cloud software and services provider. The Company enhances its software with a range of payment processing, analytic and business intelligence services, consulting, training, and professional services, as well as maintenance and technical support. Its specific solutions and services include fundraising and engagement, financial management, grant and award management, education solutions, social responsibility and ESG, payment services, data intelligence, professional and managed services, customer support, and training. Its fundraising and engagement solutions include Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving from Blackbaud, Blackbaud Fundraiser Performance Management, Blackbaud Altru, and Blackbaud Guided Fundraising. Its financial management services include Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid Management.
BLACKBAUD, INC. 
