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When Kintera Inc. acquired American Fundware Inc. last month, it was the seventh purchase this year by the San Diego-based company that makes software that helps nonprofit organizations manage their fund-raising activities.
During the last two years, Kintera has acquired a dozen smaller companies, most of them making some type of software that enhances Kintera's main product line.
Kintera's aggressive buying strategy has propelled the company's revenues through the first nine months of 2004 to nearly $16 million, more than triple the $5 million it reported for the like period of 2003.
For the full year, Kintera expects to generate between $23 million and $27 million in sales, up from about $8 million in 2003.
Likewise, its staffing numbers have risen from 163 employees at the end of last year to about 410 by the time the purchase of American Fundware, a Colorado subsidiary unit of Intuit, Inc., is completed.
Kintera founder and Chief Executive Officer Harry Gruber said the strategy is necessary to reach his intended goal of becoming the premier firm...