FrontStream Payments Inc. has purchased Artez Interactive Inc. and GiftWorks.
Artez, headquartered in Toronto, provides web, mobile and social fundraising services for nonprofits and charities.
Lancaster, Pa.-based GiftWorks develops software for donor, contribution and volunteer management, reporting and data analytics.
The deals will increase FrontStream’s client base. Terms of the transactions were not disclosed.
The Reston, Va.-based buyer operates a peer-to-peer fundraising service. Frontstream is backed by private equity firm Arsenal Capital Partners. In 2012, FrontStream acquired FirstGiving, which also develops fundraising products.
New York-based Arsenal has more than $1.6 billion in capital under management. In July, the firm closed a deal for Adco Global Inc. In May, the firm picked up Pathway Polymers. Arsenal’s other investments include Dash Multi Corp., Breckenridge Insurance and IGM Resins.
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