Friday, February 15, 2013

Sage Nonprofit Solutions Acquired By Accel-KKR

Austin-based Sage Nonprofit Solutions, the nonprofit accounting, donor and fundraising management, and grant management software development arm of Sage Group plc, has been acquired by private equity firm Accel-KKR, Accel-KKR said Friday morning. Financial terms of the deal were not disclosed. According to Accel-KKR, it will spin Sage Nonprofit Solutions off into its own, independent company, headed by Krista Endsley. Accel-KKR said that Sage Nonprofit SOlutions has more than 32,000 not-for-profit organizations using its products.