Business software company CDC Software Corp. said Monday it agreed to buy gomembers Inc., a provider of software-as-service products for nonprofit and non-governmental organizations.
Financial terms were not disclosed. Founded in 1996, gomembers provides business software products to nonprofits such as the Armed Forces Communications and Electronics Association International, Water Research Foundation, the University of Iowa and the U.S. Conference of Catholic Bishops.
Shanghai-based CDC said the acquisition will help it target "what is believed to be a largely underpenetrated and fragmented market space that is estimated to include approximately 1.5 million registered (nonprofits) in North America alone."
Gomembers has more than 150 customers, CDC said.
Shares of CDC rose 10 cents to $9.60 in midday trading.