Private equity firm purchases Community Brands divisions

Community Brands, a leading provider of cloud‐based software, services and payment solutions to the nonprofit sector, has sold its Association & Events and Nonprofit Solutions divisions to TA Associates, a private equity firm, which will merge the two divisions into one single platform dubbed Momentive Software. According to the company, Momentive serves over 30,000 purpose‐driven organizations in over 30 countries, providing them with cloud‐based software and services to engage the people they serve, simplify their operations and grow revenue.