Charleston software firm Blackbaud — a provider of cloud software and services for the worldwide philanthropic community — announced earlier this month that it has completed its acquisition of Smart Tuition, a leading provider of payment software and services for private schools and parents. The $190 million deal positions the technology leader to deliver an unmatched, fully connected experience for K-12 private schools and families.
Blackbaud offers a full spectrum of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. It can now provide K-12 private schools a single solution that fully connects them; including enrollment management, student information, billing and tuition management, learning and content management, fundraising, and more.
“With this acquisition, we’re embracing a vision that leverages more than 50 years of combined innovation and expertise in the K-12 private schools market,” said Blackbaud President and CEO Mike Gianoni. “The end result will be the most powerful, comprehensive and well-integrated cloud solution for schools on the planet—one that will undoubtedly redefine the experience for teachers, administration, and families for decades to come.”
Smart Tuition’s full product suite, including Smart Tuition, Smart Aid, and Smart for Dioceses, will fold into Blackbaud’s K-12 lineup.
“The addition of our payment solutions to Blackbaud’s leading product and service portfolio presents immediate and significant upsides for K-12 private schools and families,” said Smart Tuition President and CEO Matt Knapp. “This means unmatched offerings from one trusted partner that helps schools manage and connect information, improve internal processes and strengthen the parent experience. And as we continue to innovate as one coordinated company, school clients can expect to see even greater overhead reductions, better-empowered faculty and students, and satisfied families who are advocates for life.”
The Smart Tuition business will align with Blackbaud’s General Markets Business Unit with operations continuing out of New Jersey and other locations across the United States. Knapp will continue leading the group, reporting to Kevin Mooney, executive vice president and president of Blackbaud’s General Markets Business Unit.
Established in 1989, Smart Tuition is headquartered in Woodbridge, NJ. Financial advisors for this transaction were Sagent Advisors, LLC for Blackbaud, and Raymond James for Smart Tuition. In 2014, it got recognized among Inc. Magazine’s 5,000 fastest growing private companies in America. Smart Tuition supports the educational mission of faith-based schools, as well as independent private schools across the United States.
Blackbaud is headquartered in Charleston, South Carolina and has operations in the United States, Australia, Canada, Ireland and the United Kingdom. Trading publicly on NASDAQ (BLKB), the company has served the worldwide philanthropic community for more than 30 years. It works in over 60 countries and has more more than 30,000 clients, including nonprofits, K-12 private and higher education institutions, healthcare organizations, foundations and other charitable giving entities, and corporations.