Blackbaud-Convio deal moves forward

By Lauren Ratcliffe
lratcliffe@scbiznews.com
Published April 30, 2012

The waiting game is over for Blackbaud Inc. and its acquisition of Convio Inc.

Blackbaud received a notification of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Termination or expiration of the waiting period is one of the conditions to completing the transaction.

“We are extremely pleased to achieve this milestone,” said Blackbaud CEO Mark Chardon. “We look forward to completing the tender offer process and then closing the merger. We are ready to deliver the benefits we see for the merger to our customers as well as to our employees and stockholders.”

Blackbaud first filed paperwork for the acquisition on Jan. 17. The company later withdrew the premerger notification to allow the Department of Justice time to informally review the transaction.

Blackbaud also extended its cash tender offer for all outstanding shares of Convio stock five times.

Previous coverage:

Blackbaud extends Convio offer for fifth time
Blackbaud refiles premerger notification for Convio
Blackbaud again extends expiration of tender offer for Convio
Blackbaud extends expiration of tender offer for Convio
Blackbaud withdraws premerger agreement, plans to re-file
Blackbaud to acquire Convio for $275M

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