| [April 27, 2012] |
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Blackbaud and Convio Announce Early Termination of HSR Waiting Period In Connection With Proposed Merger
CHARLESTON, S.C. & AUSTIN, Texas --(Business Wire)--
Blackbaud, Inc. (Nasdaq: BLKB) and Convio, Inc. (Nasdaq: CNVO) today
announced that they have received notification of early termination of
the waiting period under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976 applicable to their proposed merger. Termination or
expiration of this waiting period is one of the conditions to completing
the transaction.
Marc Chardon, Blackbaud's chief executive officer stated, "We are
extremely pleased to achieve this milestone. We look forward to
completing the tender offer process and then closing the merger. We are
ready to deliver the benefits we see for the merger to our customers, as
well as to our employees and stockholders."
For additional information about the proposed merger, including
frequently asked questions, visit www.blackbaud.com/convio.
About Blackbaud
Serving the nonprofit and education sectors for 30 years, Blackbaud
(NASDAQ: BLKB) combines technology and expertise to help organizations
achieve their missions. Blackbaud works with more than 26,000 customers
in more than 60 countries that support higher education, healthcare,
human services, arts and culture, faith, the environment, independent
education, animal welfare, and other charitable causes. The company
offers a full spectrum of cloud-based and on-premise software solutions,
and related services for organizations of all sizes including:
fundraising, eMarketing, social media, advocacy, constituent
relationship management (CRM), analytics, financial management, and
vertical-specific solutions. Using Blackbaud technology, these
organizations raise more than $100 billion each year. Recognized as a
top company by Forbes, InformationWeek, and Software Magazine and
honored by Best Places to Work, Blackbaud is headquartered in
Charleston, South Carolina and has employees throughout the US, and in
Australia, Canada, Hong Kong, Mexico, the Netherlands, and the United
Kingdom.
About Convio
Convio (NASDAQ: CNVO) is a leading provider of on-demand constituent
engagement solutions that enable nonprofit organizations to aximize the
value of every relationship. With Convio constituent engagement
solutions, nonprofits can more effectively raise funds, advocate for
change and cultivate relationship with donors, activist, volunteers,
event participants, alumni and other constituents. Convio offers two
open, cloud-based constituent engagement solutions: Convio Common Ground
CRMTM for small- and mid-sized nonprofits and Convio LuminateTM
for enterprise nonprofits. Headquartered in Austin, Texas with offices
across the United States and United Kingdom, Convio serves more than
1,500 nonprofit organizations globally. Convio is listed on the NASDAQ
Global Market under the symbol CNVO. For more information, please visit www.convio.com.
Forward-Looking Statements
This Press Release contains "forward-looking statements" relating to the
acquisition of Convio by Blackbaud and the companies' potential combined
business. Those forward-looking statements are based on current
expectations and involve inherent risks and uncertainties, including
factors that could delay, divert or change any of them, and actual
outcomes and results could differ materially. Among other risks, there
can be no guarantee that the acquisition will be completed, or if it is
completed, that it will close within the anticipated time period or that
the expected benefits of the acquisition and combined business will be
realized. These forward-looking statements should be evaluated together
with the risk factors and uncertainties that affect Blackbaud's and
Convio's businesses, particularly those identified in their Annual
Reports on Form 10-K and other filings with the U.S. Securities and
Exchange Commission, or SEC (News - Alert). Except as might be required by law, neither
company undertakes any obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Additional Information
Blackbaud, through its wholly owned subsidiary Caribou Acquisition
Corporation, launched a tender offer for all the issued and outstanding
shares of Convio common stock on January 25, 2012 and has filed with the
SEC a tender offer statement on Schedule TO, as amended. Investors and
Convio stockholders should read the tender offer statement (including an
offer to purchase, letter of transmittal and related tender offer
documents) and the related solicitation/recommendation statement on
Schedule 14D-9 filed by Convio with the SEC, because they contain
important information. These documents are available at no charge
through the SEC's website at www.sec.gov,
from Georgeson Inc., the information agent for the offer, toll-free at
(800) 868-1391 (banks and brokers call (212) 440-9800), from Blackbaud
(with respect to documents filed by Blackbaud with the SEC) by going to
the Investor Relations section of Blackbaud's website at www.blackbaud.com,
or from Convio (with respect to documents filed by Convio with the SEC)
by going to the Investor Relations section of Convio's website at www.convio.com.
In addition to the offer to purchase, the related letter of transmittal
and other offer documents, as well as the solicitation/recommendation
statement, Blackbaud and Convio file annual, quarterly and special
reports, proxy statements and other information with the SEC. You may
read and copy any of these reports, statements or other information in
the EDGAR database at the SEC website, www.sec.gov,
or at the SEC public reference room at 100 F Street, N.E., Washington,
D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further
information on the public reference room.

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