Wednesday, January 18, 2012
Convio (Nasdaq - CNVO) Acquired by Blackbaud
Convio (CNVO), a leading provider of solutions for non-profit organizations, announced Tuesday it agreed to be purchased by rival Blackbaud, Inc. (BLKB) for $16.00 per share. The sale price is 49% higher than Convio's Friday close price of $10.74; it is a 51% increase over Growth Stock Insider's initial recommendation last July of $10.60. There is still a slight chance that another company will purchase Convio moving forward. Oracle and SAG, both of which recently purchased similar software companies, are possible potential buyers. The share price could rise if this happens, but there is risk in waiting it out.