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Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, is pleased to announce that Tom Barth has been appointed head of Investor Relations (IR). In this role, Barth will report to Tony Boor, executive vice president and CFO, and will be responsible for defining and leading a broad-based program to maximize the company's shareholder value.
Blackbaud rejected a sweetened $4.3 billion takeover offer from Clearlake Capital Group, saying it significantly undervalued the cloud software provider. This is the second time that Blackbaud has spurned the overtures of its largest shareholder, which has been swooping down on software companies as it bets on demand for cloud-related services. The private equity firm made its latest offer last month, valuing each share of Blackbaud at $80, compared with the $71 per share offered in March last year.