Blackbaud Acquires Public Interest Data for $20M
Blackbaud, Inc. (Nasdaq: BLKB) today announced the acquisition of Public Interest Data, Inc., an Alexandria, Virginia-based company with more than 20 years experience providing database management services, acquisition list services, and data analytics and enrichment services for nonprofits.
PIDI will become part of Blackbaud and will continue to serve its growing customer base of more than 50 of the leading nonprofit organizations in the United States from its existing Alexandria, VA and Miami Beach, FL offices.
Under the terms of the agreement, Blackbaud paid an aggregate purchase price of approximately $17.5 million, plus an additional amount of up to $2.5 million in contingent payments based upon performance of the acquired business through the two-year anniversary of the transaction.
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