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Blackbaud buys PE-backed enterprise philanthropy provider YourCause for $157M

Cloud software company Blackbaud Inc. acquired enterprise philanthropy provider YourCause LLC from private equity firm Providence Strategic Growth Capital Partners LLC for about $157 million.

Blackbaud said it will align YourCause's capabilities with its technical standards to introduce expanded innovation to the market, according to a Jan. 2 news release. As part of the transaction, YourCause's Plano, Texas-based team of 155 employees will join Blackbaud.

Providence Strategy is a growth equity affiliate of Providence Equity Partners LLC.

Shea & Co. LLC and Weil Gotshal & Manges LLP acted as financial and legal advisers to YourCause shareholders on the transaction.