|Blackbaud Names Jagtar Narula Senior Vice President of Corporate Strategy and Business Development|
Charleston, S.C. (April 4, 2016) — Blackbaud, Inc. (NASDAQ: BLKB), the world's leading cloud software company powering social good, today announced the promotion of Jagtar Narula to senior vice president of corporate strategy and business development, which was effective March 31 upon the retirement of Charlie Cumbaa.
Narula joined Blackbaud in 2014 as the leader of corporate financial planning and analysis, and investment strategy. He led many key initiatives, including work to define product profitability, strengthen forecasting, budgeting and financial reporting, and develop models to inform product investments and pricing decisions. As an instrumental member of the extended corporate development team, Narula steered the negotiations and due diligence for the mergers and acquisitions of WhippleHill, MicroEdge, Smart Tuition, Attentive.ly and AcademicWorks.
Narula has also driven Blackbaud's investor relations and business planning efforts, and led teams to achieve significant growth in financial analyst coverage. Most recently, he oversaw cross-company strategic planning initiatives to accelerate progress against Blackbaud's short and long-term business goals.
"Jagtar quickly proved himself a vital asset to our organization," said Mike Gianoni, Blackbaud president and CEO. "He has served a pivotal role in leading our corporate teams and setting the corporate strategy, while also discovering and shepherding key acquisitions."
Prior to joining Blackbaud, Narula served as vice president of finance at Xerox Corporation. In this role, he was responsible for managing the financial performance of a global business of hardware and software solutions. Additional roles included vice president of acquisition operations and director of strategy, mergers and acquisitions. In these roles, Narula was responsible for corporate strategy development and acquisition execution and integration, including the largest acquisition in the corporation's history. His past work to develop a pragmatic "build, buy, and partner" innovation strategy has informed his current role with Blackbaud.
"I'm looking forward to leveraging my previous experience in private equity, M&A, corporate strategy and financial leadership roles to drive strategic and operational decisions for Blackbaud," said Narula. "Blackbaud is the world leader in providing cloud solutions to nonprofits and the social good market, which has tremendous opportunity in front of it. I am excited to help shape the direction in providing value to our customers and growing the footprint of our business."
Prior to Xerox, Narula was a principal and vice president at Core Capital Partners, a $350 million technology industry focused private equity fund, and an assistant vice president on the technology, media and telecommunications team at GE Equity, the private equity investment arm of General Electric Company.
Narula holds a bachelor of science in engineering from State University of New York College at Buffalo, and a master of business administration from The Wharton School at the University of Pennsylvania.