[ad_1]
Article content
Calgary-based software firm Benevity has become the latest local tech firm to achieve “unicorn” status, the result of a $ 1.1 billion deal that will see a British private equity firm assume majority control of the company.
The transaction, which is expected to close in January, will see UK-based Hg Capital LLP acquire a majority stake in the private technology company, whose existing shareholders include Benevity’s current executives and employees, as well as private equity firms. US JMI Equity and General Atlantic.
Benevity, founded in Calgary in 2008 by current company CEO Bryan de Lottinville, specializes in corporate social responsibility software, which offers businesses and nonprofits access to a range of products and programs. managing employee engagement, workplace donations and grants.
The company’s corporate customer roster includes giants like Starbucks, Coca-Cola, Microsoft, Pfizer, and Visa, and in just over a decade, it has grown from a small startup to a 650-person operation with around $ 100 million. annual revenue and a shiny new office building in Bridgeland, just across the river from downtown.
Source link
