Blackbaud, Inc. (NASDAQ: BLKB), a leading provider of software solutions, announced on Thursday its divestiture of EVERFI Inc. to a private investment firm not previously associated with Blackbaud. The transaction was finalized on December 31, although specific terms of the deal were not disclosed.
Post-sale, Blackbaud will maintain ownership of its YourCause portfolio and the Impact Edge™ solution. These platforms play a critical role in supporting corporate philanthropy, volunteerism, stakeholder engagement, and comprehensive impact reporting.
The company indicated that this strategic move aims to empower mission-driven organizations to enhance their corporate impact efforts more effectively.
Prior to the announcement, Blackbaud's stock saw a slight increase, closing at $73.92 on Tuesday, reflecting a 0.16% uptick on the Nasdaq. However, pre-market trading indicates a slight decline of 0.95%, positioning the stock at $73.22.
