Cloud software company Blackbaud has today confirmed that it has been successful in buying digital fundraising platform JustGiving for £95m.
The planned acquisition was announced earlier this year and today both Blackbaud and JustGiving confirmed that the customary regulatory process has been completed. They said that the two organisations will now work towards “integrating the JustGiving team” into Blackbaud’s UK-based subsidiary.
According to a spokesman from JustGiving, the giving platform had referred itself to the Competition and Markets Authority over the deal, “to ensure that all the I’s were dotted and the t’s were crossed”, and the CMA cleared the decision on 8 September.
Blackbaud first announced its plan to acquire JustGiving in June of this year, when it confirmed it had “entered into an agreement to acquire” JustGiving for £95m. According to its statement, Blackbaud financed its acquisition through “cash on hand and borrowings under its existing credit facility”.
In June, JustGiving said its current team “will remain absolutely the same” following the completion of the purchase.
Blackbaud’s acquisition of JustGiving doubles its investments in UK-based digital giving platforms, sitting alongside its existing suite of offerings through both everydayhero and TeamRaiser. The Blackbaud statement says JustGiving will “add a new personal crowdfunding capability” for the company in the UK.
JustGiving’s crowdfunding platform raised over £50m for good causes alone last year. Since it was founded by Anne-Marie Huby and Zarine Kharas in 2001, JustGiving platforms have raised over £3bn for good causes.
“We are proud to welcome JustGiving to the Blackbaud family,” said Mike Gianoni, president and chief executive of Blackbaud. “Blackbaud is committed to accelerating the impact of individuals and organisations pursuing global good with modern, mobile-first and integrated cloud software. As we marry JustGiving’s leading innovation in social giving with our unmatched cloud solutions for social good, we can power game-changing breakthroughs that strengthen the entire social economy.”
In Fundraising Magazine
In a statement, JustGiving said: “Now that the customary regulatory process in the UK is complete, Blackbaud will begin the process of integrating the JustGiving team into the Blackbaud family, working together to grow the world of giving at an even faster pace.
“JustGiving will work with the Blackbaud team to develop a roadmap with the aim of providing even greater services to the charity sector both in the UK and across the world. We are excited to begin this process and look forward to sharing our plans with you in due course.”
Anne-Marie Huby, co-founder and managing director of the platform, said: “We’re passionate about growing the world’s giving and advancing good causes – and I can’t think of a better way to do it than as part of the world’s leading cloud software provider powering social good.”