Blackbaud Acquires Convio For $16 Per Share

Blackbaud (NASDAQ:BLKB) agreed to acquire Convio (NASDAQ:CNVO) in a cash deal for $16-per share.The deal represents a 49% premium over Convio’s close on Friday.The company said it expects the acquisition to be accretive to Blackbaud’s 2012 adjusted EPS, and contributing to free cash flow.Both boards approved of the deal, which is expected to close during the first quarter.

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