Tuesday, July 5, 2011

Convio Buys UK Firm

Austin-based Convio, the developer of software-as-a-service for nonprofit management, said Tuesday that it has acquired Baigent Digital LLC, a UK-based provider of online fundraising solutions to nonprofits in the United Kingdom. Convio said it will pay approximately $2.9M in cash, plus up to $0.4M in earn out. Convio said Baigent was roughly break-even, with revenues of approximately $2.0M in 2010.