Blackbaud's largest shareholder Clearlake Capital Group has made a fresh buy-out offer that values the cloud software provider at $4.3 billion, the company said on Monday.
largest shareholder Clearlake Capital Group has made a fresh buy-out offer that values the cloud software provider at $4.3 billion, the company said on Monday.
Clearlake said in a letter to Blackbaud's board that it intends to discuss the terms of the new proposal with the company.Last year, Clearlake had made an all-cash offer of $71 per share that Blackbaud rejected, claiming it undervalued the company. Clearlake has bought several other software firms as well, such as Cornerstone OnDemand and Quest Software, betting on the booming demand for cloud services.
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