Better to Give and Receive: Vista and Bregal Sell MicroEdge
October 08, 2014
Vista Equity Partners and Bregal Sagemount have sold MicroEdge, a provider of software and services to the giving community worldwide, to Blackbaud (NASDAQ: BLKB). Coming in at an aggregate price of $160 million, the deal was financed by Blackbaud with cash on hand and borrowings under its existing credit facility. MicroEdge's tech toolset helps foundations, government agencies and donors raise, invest, manage and award charitable currency, streamlining the grantmaking cycle from upfront submission to back-end evaluation and measurement. Vista Equity backed MicroEdge in 2009; Bregal Sagemount made a minority investment almost two years ago.