Friday, April 27, 2012

Convio, Blackbaud Get Early Antitrust Clearance

Austin-based Convio, the developer of software-as-a-service for the nonprofit market, and Blackbaud, the educational software developer which is in the process of acquiring Convio, reported this morning that they have received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The clearance is one of the hurdles required to consummate the merger of the two firms, which was originally announced in January. Blackbaud said it will pay $275M for Convio in January.