On March 17, 2023, Vendasta announced the acquisition of Broadly Inc., a private firm known for its customer engagement platform aimed at small and medium-sized businesses (SMBs). Broadly specializes in enhancing SMBs' customer relationships through services like lead capture, communication streamlining via email and text, mobile payment collection, and feedback and review gathering.

Vendasta, which provides a leading platform and marketplace to assist channel partners like advertising agencies and media companies in marketing, selling, billing, fulfilling, and delivering products and services to their SMB customers, views this acquisition as a significant growth opportunity. The deal aims to integrate Broadly's customer engagement tools into Vendasta's extensive marketplace, benefiting Broadly's customer base. Additionally, Broadly will gain access to Vendasta’s research and development resources to further refine its core products.

Vendasta's CEO, Brendan King, emphasized that the acquisition would offer Broadly's clients access to Vendasta's vast channel distribution network, reaching thousands of resellers and approximately six million SMB customers. Mindy Lauck, CEO of Broadly, echoed this sentiment, noting the alignment in customer-first approaches between the two companies and the expanded product and service range now available to Broadly's customers.

The acquisition accelerates the strategic growth plans of both companies, introducing Broadly’s customer base to Vendasta's full product range and providing Vendasta’s channel partners with Broadly's comprehensive engagement tools.

TD Securities (USA) LLC acted as the financial advisor to Broadly for this transaction, while Morgan, Lewis & Bockius LLP provided legal counsel.