The acquired company is a leading SaaS provider supporting Corporate ESG and CSR initiatives
Blackbaud this week announced it has acquired EVERFI in a cash and stock transaction for approximately $750 million, subject to certain customary adjustments.
Blackbaud provides cloud software services to nonprofits, higher education institutions, K–12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations and companies.
EVERF is a self-described “pioneer” in what they call “Impact-as-a-Service” (IaaS). Through a combination of cloud-based software and its own community engagement ecosystem, EVERFI enables private, public and social sector organizations to respond to some of today’s most pressing challenges.
The company does this through education, activating community engagement at scale, delivered as a service. Through its technology and learning platform, EVERFI has reached more than 45 million learners globally, in addition to delivering critical insight to its corporate partners so they can measure and amplify the impact of the educational programs they are driving in support of their environmental, social and governance (ESG) and corporate social responsibility (CSR) goals.
“Building a better world”
Together, Blackbaud and EVERFI will strengthen the technology and data-driven impact space, they say. This will benefit companies committed to social impact, they claim. They believe their joining forces will drive “meaningful outcomes that build a better world. :
The combination brings together a vast network of K-12 schools, a strong enterprise customer base, recognized excellence in the ESG and CSR sectors, and complementary offerings that will grow the IaaS vision. EVERFI’s executive team and CEO Tom Davidson will join Blackbaud focused on accelerating expansion efforts.
Mike Gianoni, president and CEO, Blackbaud, commented. “As companies continue to invest further in ESG and CSR programs to both give back and meet regulatory demands, they need a partner who can help connect their philanthropic goals to meaningful social impact opportunities,” he said. “Blackbaud and EVERFI will work together to realize a shared vision of measurable social impact through world-class technology.”
“Blackbaud and EVERFI have similar cultures and a strong sense of purpose,” said Tom Davidson, CEO, EVERFI. “Together we offer an unparalleled commitment to customers, innovation and data-driven social impact, making us the one distinctive leader in the social impact space. EVERFI’s software powers some of the largest ESG and CSR initiatives in the world, and this alignment will drive impact for millions of learners every year.”