Jeff Clabaugh | [email protected]
January 4, 2022, 10:19 AM
D.C.-based education technology company EverFi has been acquired by Blackbaud — a Charleston, South Carolina-based cloud software company — for $750 million.
Since its founding in 2008, EverFi’s education platform has reached 45 million students worldwide. Its platforms also enable community engagement, and provide corporate customers with measurable insight for environmental and corporate social responsibility goals.
Blackbaud said the acquisition will expand its position as a leader in the rapidly growing corporate governance and social responsibility space. It will double the company’s market opportunities, and Blackbaud expects the EverFi acquisition to add $120 million to 2022 revenue.
Under terms of the acquisition, Blackbaud is funding it with a combination of cash and stock.
EverFi was recognized as one of the world’s most innovative companies by Fast Company in 2020.
EverFi’s education platforms focus on K-12 students. Last year, it sold its higher education business — which includes online training programs for college students and staffers on alcohol and substance abuse prevention, sexual assault prevention and mental health well-being — to Vector Solutions for $100 million.
Jeff Clabaugh has spent 20 years covering the Washington region’s economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.
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