Insight Partners is exploring the sale of Community Brands, which makes software used for donations, peer-to-peer fundraising, admissions and events, among other purposes, according to people with knowledge of the matter.
The New York-based investment firm is working with FT Partners to solicit interest from potential suitors, which may include larger software vendors or private equity firms, said the people, all of whom requested anonymity discussing private information.
Community Brands could fetch as much as $2bn, including debt, in any transaction, the people said.
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Community Brands, led by Chief Executive Officer Dave Wirta, serves over 100,000 clients in 30 countries including 3M Co., International Business Machines Corp., Habitat for Humanity and Girl Scouts, its website shows. Its software includes brands like Aptify, Configio, GiveSmart, MobileCause, Ravenna and SchoolSpeak.
Formed in 2017 through the combination of YourMembership, Abilta and Aptify, the software maker has acquired firms including BigSIS in August.
Representatives for Insight Partners and FT Partners declined to comment.
Source: BNN Bloomberg
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