Vendasta today announced that it has acquired Broadly Inc., a private company that offers an industry leading customer engagement platform for small and medium-sized businesses.
Vendasta supports its customers with an industry-leading platform and a marketplace of products to help its customers – channel partners such as advertising agencies and media companies – market, sell, bill, fulfill and deliver those products and associated services to their SMB customers.
Broadly helps SMBs forge more meaningful relationships with customers by helping them capture leads, streamline their communications by email and text, collect mobile payments, and gather feedback and reviews.
“This acquisition will bring our industry-leading marketplace to Broadly customers while also giving Broadly access to Vendasta’s R&D expertise to continue to refine the core product,” said Vendasta CEO Brendan King. “The acquisition will provide Broadly with access to Vendasta’s channel distribution with thousands of resellers and exposure to 6 million SMB customers.”
“Broadly will fit in perfectly with Vendasta’s customer-first culture,” said Mindy Lauck, CEO of Broadly. “Both companies take a user-first approach and I’m excited about the additional products and services Broadly’s customers will have access to.”
The deal marks an acceleration of both companies’ strategic growth plans and introduces Broadly’s significant base of customers to the full range of products available through Vendasta’s marketplace while giving their channel partners access to Vendasta’s end-to-end platform.
TD Securities (USA) LLC served as financial advisor to Broadly, and Morgan, Lewis & Bockius LLP served as legal counsel.
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