Blackbaud and Convio Announce Early Termination of HSR Waiting Period in Connection with Proposed Merger
April 27 2012 - 9:00AM
Business Wire
Blackbaud, Inc. (Nasdaq: BLKB) and Convio, Inc. (Nasdaq: CNVO)
today announced that they have received notification of early
termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 applicable to their proposed
merger. Termination or expiration of this waiting period is one of
the conditions to completing the transaction.
Marc Chardon, Blackbaud’s chief executive officer, stated, “We
are extremely pleased to achieve this milestone. 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.”
For additional information about the proposed merger, including
frequently asked questions, visit
www.blackbaud.com/convio.
About Blackbaud
Serving the nonprofit and education sectors for 30 years,
Blackbaud (NASDAQ: BLKB) combines technology and expertise to help
organizations achieve their missions. Blackbaud works with more
than 26,000 customers in more than 60 countries that support higher
education, healthcare, human services, arts and culture, faith, the
environment, independent education, animal welfare, and other
charitable causes. The company offers a full spectrum of
cloud-based and on-premise software solutions, and related services
for organizations of all sizes including: fundraising, eMarketing,
social media, advocacy, constituent relationship management (CRM),
analytics, financial management, and vertical-specific solutions.
Using Blackbaud technology, these organizations raise more than
$100 billion each year. Recognized as a top company by Forbes,
InformationWeek, and Software Magazine and honored by Best Places
to Work, Blackbaud is headquartered in Charleston, South Carolina
and has employees throughout the US, and in Australia, Canada, Hong
Kong, Mexico, the Netherlands, and the United Kingdom.
About Convio
Convio (NASDAQ: CNVO) is a leading provider of on-demand
constituent engagement solutions that enable nonprofit
organizations to maximize the value of every relationship. With
Convio constituent engagement solutions, nonprofits can more
effectively raise funds, advocate for change and cultivate
relationship with donors, activist, volunteers, event participants,
alumni and other constituents. Convio offers two open, cloud-based
constituent engagement solutions: Convio Common Ground CRMTM for
small- and mid-sized nonprofits and Convio LuminateTM for
enterprise nonprofits. Headquartered in Austin, Texas with offices
across the United States and United Kingdom, Convio serves more
than 1,500 nonprofit organizations globally. Convio is listed on
the NASDAQ Global Market under the symbol CNVO. For more
information, please visit www.convio.com.
Forward-Looking Statements
This Press Release contains “forward-looking statements”
relating to the acquisition of Convio by Blackbaud and the
companies’ potential combined business. Those forward-looking
statements are based on current expectations and involve inherent
risks and uncertainties, including factors that could delay, divert
or change any of them, and actual outcomes and results could differ
materially. Among other risks, there can be no guarantee that the
acquisition will be completed, or if it is completed, that it will
close within the anticipated time period or that the expected
benefits of the acquisition and combined business will be realized.
These forward-looking statements should be evaluated together with
the risk factors and uncertainties that affect Blackbaud’s and
Convio’s businesses, particularly those identified in their Annual
Reports on Form 10-K and other filings with the U.S. Securities and
Exchange Commission, or SEC. Except as might be required by law,
neither company undertakes any obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Additional Information
Blackbaud, through its wholly owned subsidiary Caribou
Acquisition Corporation, launched a tender offer for all the issued
and outstanding shares of Convio common stock on January 25, 2012
and has filed with the SEC a tender offer statement on Schedule TO,
as amended. Investors and Convio stockholders should read the
tender offer statement (including an offer to purchase, letter of
transmittal and related tender offer documents) and the related
solicitation/recommendation statement on Schedule 14D-9 filed by
Convio with the SEC, because they contain important information.
These documents are available at no charge through the SEC’s
website at www.sec.gov, from Georgeson Inc., the information agent
for the offer, toll-free at (800) 868-1391 (banks and brokers call
(212) 440-9800), from Blackbaud (with respect to documents filed by
Blackbaud with the SEC) by going to the Investor Relations section
of Blackbaud’s website at www.blackbaud.com, or from Convio (with
respect to documents filed by Convio with the SEC) by going to the
Investor Relations section of Convio’s website at
www.convio.com.
In addition to the offer to purchase, the related letter of
transmittal and other offer documents, as well as the
solicitation/recommendation statement, Blackbaud and Convio file
annual, quarterly and special reports, proxy statements and other
information with the SEC. You may read and copy any of these
reports, statements or other information in the EDGAR database at
the SEC website, www.sec.gov, or at the SEC public reference room
at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC
at 1-800-SEC-0330 for further information on the public reference
room.
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