Clearlake Sweetens Offer for Blackbaud to $4.1 Billion
- Buyout firm makes non-binding bid of $80 a share for Blackbaud
- Software provider rejected Clearlake approach in March 2023
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Clearlake Capital Group LP has made a sweetened bid to acquire Blackbaud Inc., offering $80 a share about a year after its last approach was rebuffed by the cloud software provider.
The investment firm on Sunday sent a letter to the Blackbaud board with the non-binding offer, according to a filing Monday with the US Securities and Exchange Commission. The bid values the Charleston, South Carolina-based company at $4.13 billion based on 51.6 million shares outstanding, according to data compiled by Bloomberg.