Blackbaud, Inc. (NASDAQ:BLKB)
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The Company is a global provider of software and related services designed specifically for nonprofit organizations.
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The Company is a global provider of software and related services designed specifically for nonprofit organizations.
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Overpriced, plus they just paid a large premium for CNVO. That will be a drag on earnings for many years since they need to amortize the cost.
Oops. It seems my understanding of goodwill accounting was out of date.
http://en.wikipedia.org/wiki/Goodwill_(accounting)
So there is no amortization, but the CNVO deal adds $225M in goodwill to BLKB's increasingly ethereal balance sheet. Based on anemic earnings and free cash flow, I suspect this will need to be written down in the future.