Blackbaud Acquires Cloud-Based Scholarship Management Company AcademicWorks

ACQUIRED ACADEMICS: Scholarship management company AcademicWorks has been acquired by Blackbaud, a cloud software company. AcademicWorks manages scholarships for K–12, higher education and other grant-making institutions via a cloud platform that students can use to apply directly for scholarships. On the institutional side, the platform allows campuses and foundations to award, report and communicate with applicants.

"Blackbaud's sector-leading R&D investments will help to accelerate our pace of innovation and continue to enhance the way we serve institutions, donors and students,”Joe Price, President of AcademicWorks, said in a prepared statement about the acquisition.

AcademicWorks claims more than 500 academic institutions and organizations are currently on its platform, which launched in 2010.