Clearlake raises offer for Blackbaud to $4.3 billion

(Reuters) – Clearlake Capital Group said on Monday it had made a fresh offer to buy Blackbaud in an all-cash deal that values the software provider at $4.3 billion.

The new, raised offer values each share of Blackbaud at $80, representing a premium of 4.3% to its last close.

Last year, Clearlake had made an all-cash offer of $71 per share that Blackbaud rejected, claiming it undervalued the company.

Clearlake said it intends to discuss the terms of the proposed transaction with Blackbaud.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Anil D’Silva and Pooja Desai)