August 23, 2007
Blackbaud Buys Competing Charity-Software Company
Blackbaud, a company in Charleston, S.C., that provides accounting, fund-raising, and other financial software for nonprofit groups, will purchase eTapestry, an Indianapolis company, for $24.8-million, with possible additional payments of up to $1.5-million, depending on the performance of Blackbaud stock.
eTapestry, which specializes in fund-raising software and has 3,000 clients, will not be absorbed into Blackbaud, which has about 15,000 customers, but will instead operate as a
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