Sharechat Logo

Pushpay Holdings Limited (NZX: PPH) to Acquire Resi Media LLC

Monday 23rd August 2021

Text too small?

Pushpay Holdings Limited is excited to announce that it has entered into a definitive agreement to acquire 100% of the ownership interests in Resi Media LLC (‘Resi’) for US$150 million in cash and Pushpay shares. The acquisition is expected to close by the end of August subject to satisfaction of customary closing conditions.

Resi is a US-based market-leading streaming solutions provider, servicing more than 70% of the Outreach 100 largest churches in the US.

Transaction summary

- Pushpay has agreed to acquire 100% of the ownership interests in Resi for total consideration of US$150 million (subject to customary adjustments to the cash portion of the consideration), representing 8.8x FY21 revenue

- The consideration will comprise US$110 million in cash and US$40 million of Pushpay shares (the “Shares”)

- The cash component of the consideration will be funded by a combination of cash on hand and a senior secured debt facility of US$90 million

- All of the Shares will be subject to a lock-up deed which prohibits the transfer or sale of the Shares during the restricted period, with customary exceptions. 50% of the Shares are restricted for 12 months from closing, 25% for 18 months from closing and the remaining 25% for 24 months from closing

Please see the links below for details

Pushpay to acquire Resi Media LLC, adding its market-leading streaming solutions to Pushpay’s product suite

Pushpay Acquisition of Resi Media LLC Investor Presentation

Source: Pushpay Holdings Limited

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZME celebrates significant digital subscription milestone
GSH - Acquisition of Viaduct venue
DGL - Delisting from the Main Board of NZX Limited
KPG Annual Meeting 2022 presentation and address
NZL - Completion of Retail Bookbuild
ArborGen Announces Board Change
Oceania announces $500m sustainability-linked loan
MFB - Nomination of Cecilia Robinson
29th June 2022 Morning Report
GSH Appointment of new Chairman