The transaction is expected to close by the end of August. Resi’s website indicated that the acquisition should be completed by August 24.
Resi is an end-to-end live streaming provider with services that include live and multisite streaming for churches. Resi is used by more than 70% of the 100 largest churches in the United States. Resi was founded in 2016 and serves 3,900 nonprofit and for-profit organizations.
Resi is also planning to expand its streaming service to corporate, education, sports and live event markets.
Strategically, Pushpay sees the acquisition as a way to strengthen their offer as a way for churches to engage, monetize, and grow online, in-person and hybrid audiences.
Pushpay recently introduced their “ChurchStaq” suite of end-to-end engagement solutions for churches. In December 2019, Pushpay also acquired Church Community Builder, the church management software platform. And previous to that, Pushpay acquired Bluebridge’s church app related business in November of 2016.