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Austin Tech Firm Convio Acquired by Competitor

Convio, a firm that sells software tailored to non-profits, was purchased by a competitor today.
Photo courtesy www.flickr.com/mydigitalslrcamera
Convio, a firm that sells software tailored to non-profits, was purchased by a competitor today.

Austin based tech firm Convio – which sells fundraising and outreach software to non-profits (including KUT) – has agreed to be purchased by South Carolina-based Blackbaud, a competitor that sells similar software.

The agreement was announced today on Blackbaud’s website. In a press release, the company wrote “The acquisition of Convio will combine the two companies’ strengths to accomplish a common mission – making multi-channel supporter engagement a reality – at a faster pace than either company could achieve on its own.”Convio has over 400 employees, the bulk of whom are in the Austin area. The company is routinely listed as a top place to work by the Austin American-Statesman and Austin Business Journal.  There's no word at this time as to how Austin workers will be impacted by the purchase.

However, Blackbaud’s purchase price of Convio – $16 a share, a dollar below one market estimate of $17 – has created an avalanche of press releases from law firms investigating whether the purchase price was sufficiently protective of shareholders.

Wells has been a part of KUT News since 2012, when he was hired as the station's first online reporter. He's currently the social media host and producer for Texas Standard, KUT's flagship news program. In between those gigs, he served as online editor for KUT, covering news in Austin, Central Texas and beyond.
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