SEG Sector Deals: Blackbaud Acquires AcademicWorks

Blackbaud recently acquired AcademicWorks for $50 million. AcademicWorks provides a cloud-based scholarship management software that allows students to apply for all scholarships at an institution, while allowing institutions to award and communicate with students. Their software will integrate with Blackbaud’s existing higher education fundraising, financial management, and analytics solutions to create a more comprehensive platform.

Seller Business Description:

AcademicWorks, Inc develops cloud-based scholarship management software for higher education and nonprofits.

Buyer Business Description:

Blackbaud, Inc is a provider of software and solutions to non-profit organizations. See Press Release.