Blackbaud Finalizes Deal For Smart Tuition
October 5, 2015 Andy Segedin
Blackbaud of Charleston, S.C. has finalized its $190-million acquisition of Smart Tuition, a payment software and services provider for private schools and parents. The deal will fold Smart Tuition’s full product line including Smart Tuition, Smart Aid and Smart for Dioceses into Blackbaud’s K-12 portfolio.
Blackbaud, a software and services provider, did not previously provide tuition management services, according to Blackbaud CEO Michael P. Gianoni, adding that the acquisition will be used to complement Blackbaud’s existing offerings for K-12 private schools. “More than 80 percent of a typical K-12 private school’s revenue comes from tuition,” Gianoni said in an email. “Because of this acquisition, Blackbaud is now able to expand into a new category that enables the company to more fully serve K-12 private schools and their families.”
Gianoni opined that the acquisition puts Blackbaud in a position to provide an integrated K-12 service that includes the management of enrollment, billing, tuition, learning and content. With the deal finalized, Blackbaud is in the process of strategizing how best to service customers, Gianoni said, a process that includes communicating with existing users. Any potential adjustments will be shared with clients ahead of time, Gianoni said. Existing clients may stay up to date on potential changes by visiting K12.Blackbaud.com or www.SmartTuition.com
Smart Tuition’s Woodbridge, N.J.-based headquarters will continue to operate as a Blackbaud office, according to Gianoni.
The deal, which was first announced in August, is the third acquisition for Blackbaud since June of 2014 when it purchased New Hampshire-based Whipple Hill Communications for $35 million. In September of last year, Blackbaud purchased MicroEdge for $160 million.