Recent news has been announced that Pushpay is being acquired for $898 million
- RECENT UPDATE FROM PUSHPAY // According to an official corporate statement: “…As part of the ongoing process, the Company has received a revised indicative non-binding proposal and is continuing to assess whether there is the potential for a transaction that is in the best interests of shareholders as a whole. There is no certainty that a transaction will proceed or as to the pricing or timing of any transaction. Pushpay will continue to keep the market updated in accordance with its continuous disclosure obligations.”
- Rick Morgan, Inno Senior Reporter for the Puget Sound Business Journal, recently reported further details of the deal:
- TIMING // The deal is expected to close in the second quarter of 2023 after a shareholder vote in the first quarter.
- WHO // Investment firm Sixth Street, based in San Francisco, and private equity group BGH Capital, headquartered in Melbourne, are acquiring Pushpay.
- Pushpay says it had 564 employees at the end of March.
- Pushpay will continue to focus on serving its customers and achieving its mission of being the preferred provider of mission-critical software to the U.S. faith sector.
Pushpay provides a donor management system, including donor tools, finance tools, and a custom community app, a church management system (ChMS), and video streaming solutions to the faith sector, non-profit organizations, and education providers located predominantly in the United States (US) and other jurisdictions. Pushpay's solutions simplify engagement, payments, and administration, enabling customers to increase participation and build stronger relationships with their communities.
Church Community Builder and Resi Media LLC (Resi) are subsidiaries of Pushpay Holdings Limited. Church Community Builder provides a Software as a Service (SaaS) church management system that churches use to connect and communicate with their community members, record member service history, track online giving, and perform a range of administrative functions. Resi is a high-growth SaaS company that provides end-to-end live video streaming solutions enabled by hardware products predominantly to the faith sector whilst also servicing commercial, and non-profit organizations and education providers in the US.