Blackbaud Inc. Announces Acquisition of eTapestry



Blackbaud, Inc. (http://www.blackbaud.com/default.aspxpgpId=65&PRID=241) developed one of the first Software-as-a-Service (SaaS) offerings built specifically for nonprofits. eTapestry's flagship offering is its on-demand fundraising solution, which is easy to use, easy to deploy and maintain. eTapestry currently has more than 3,000 customers on its on-demand services, with donor records ranging from several hundred per organization to more than 300,000.

Marc Chardon, Blackbaud's chief executive officer, said, "We are very excited to announce the acquisition of eTapestry. This strategic move provides Blackbaud with a best-of-breed, on-demand fundraising solution that is ideally suited for smaller organizations interested in an easy to deploy and relatively low cost offering, as well as mid-sized nonprofits interested in a stand-alone fundraising solution (http://www.blackbaud.com/products/fundraising/raisersedge.aspx) and our integrated suite of solutions, we believe that Blackbaud is now positioned to meet the fundraising needs of all nonprofits, irrespective of their size or approach to technology.

Chardon added, "From a long-term perspective, we believe that Software-as-a-Service offerings in the nonprofit sector will grow in importance. With the acquisition of eTapestry, we have positioned Blackbaud to participate in an early-stage, high-growth trend with a company that has a proven solution, customer base and growth track record. In addition, Blackbaud adds significant domain expertise in the nonprofit sector and on-demand market."

eTapestry will continue operations as a wholly-owned subsidiary in Indianapolis. The 85-person company will continue to be led by Jay Love, co-founder and currently CEO of eTapestry. Jay previously served as a sales and marketing consultant at Target Software, as well as president and CEO of Master Software Corporation, which was acquired by Blackbaud in 1997. John Moore, eTapestry's co-founder and vice president of development, and Steve Rusche, eTapestry's co-founder and COO, both plan on continuing in their current roles with eTapestry as it becomes part of Blackbaud. On a combined basis, the founders of eTapestry have spent more than 50 years helping nonprofits implement and use fundraising software.

Jay Love, eTapestry's co-founder and chief executive officer, said "Having previously been the CEO of a company that was sold to Blackbaud, as well as working at Target Software (http://www.blackbaud.com/products/directmarketing/directmarketing.aspx) , school administration, ticketing, business intelligence, website management, prospect research, consulting, and analytics. Since 1981, Blackbaud's sole focus and expertise has been partnering with nonprofits and providing them the solutions they need to make a difference in their local communities and worldwide. Headquartered in the United States, Blackbaud also has operations in Canada, the United Kingdom, and Australia. For more information, visit www.sec.gov or upon request from Blackbaud's investor relations department.

All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.

Investor Contact:

    

Tim Dolan

ICR

617-956-6727

Media Contact:

Melanie Milonas

Blackbaud, Inc.    

843-216-6200 x3307            

SOURCE: Blackbaud, Inc.





Blackbaud Inc. Announces Acquisition of eTapestry