Internet Capital Group Acquires GovDelivery and GovLoop

Internet Capital Group (ICG), a private-equity and venture-capital firm that invests in tech firms, acquired a controlling stake in GovDelivery for $19 million, which acquired GovLoop late last year.

The deal will provide GovDelivery with capital and other resources needed to continue expanding its business, the companies said in a statement earlier.

“ICG is partnering with GovDelivery because we recognize that they are the clear leader in delivering innovative software as a service and social media solutions to the public sector market. We are confident we can help GovDelivery continue to build off of its strong foundation and broaden its market presence,” said Walter Buckley, CEO of ICG (Nasdaq: ICGE), in a press statement.

PR Newswire: GovDelivery Management Partners with Internet Capital Group to Acquire GovDelivery from Existing Investors