Frequently asked questions

FAQs - MoneyGram Acquisition of PropertyBridge

What are you announcing?

What impact will this acquisition have on existing users of the PropertyBridge Payments Platform?

How will the acquisition benefit customers and partners?

Will the acquisition result in changes to PropertyBridge's team?

Where will PropertyBridge be headquartered?

Has PropertyBridge's mission changed because of the acquisition?

Why did MoneyGram acquire PropertyBridge?

What will happen to the PropertyBridge brand and name?

How will PropertyBridge and MoneyGram be integrating their technologies?

Are there any immediate plans to discontinue any PropertyBridge services?

Will service release cycles be affected?

Where can I get more information on the acquisition?

What are the terms of the acquisition?

When will the acquisition close?

What are you announcing?

PropertyBridge, Inc. has agreed to be acquired by MoneyGram, International, Inc.

MoneyGram (www.MoneyGram.com) is a New York Stock Exchange listed company (NYSE: MGI), with $1.2 billion in revenue in 2006 and approximately 125,000 global money transfer agent locations in 170 countries.

MoneyGram’s products and services include global money transfers, money orders and payment processing solutions for financial institutions and retail customers. 
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What impact will this acquisition have on existing users of the PropertyBridge Payments Platform?

All existing processes and systems will continue operating as they did prior to the acquisition.

The current PropertyBridge management team and structure will remain in place following the acquisition. The PropertyBridge name will be retained, and the Company will remain headquartered in Oakland, California.  PropertyBridge will operate as a part of MoneyGram’s Global Payment Services group.
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How will the acquisition benefit customers and partners?

The combination of MoneyGram and PropertyBridge will deliver immediate benefits for our clients and partners:

• A series of new, innovative and affordable payment solutions for property managers and residents
• Access to global infrastructure and processing resources
• An unmatched focus on customer service and satisfaction

The acquisition will allow PropertyBridge to leverage MoneyGram’s strong global infrastructure, technology and assets to bring innovative payment solutions to the multifamily industry.
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Will the acquisition result in changes to PropertyBridge's team?

No. The current PropertyBridge team, including all of the Company’s founders, will remain in place after the acquisition.
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Where will PropertyBridge be headquartered?

The Company will remain headquartered in Oakland, California.
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Has PropertyBridge's mission changed because of the acquisition?

No. PropertyBridge will continue its focus on developing solutions to meet the needs of the multifamily industry. The Company will continue to focus on making it easier and more efficient for property managers to collect payments.
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Why did MoneyGram acquire PropertyBridge?

There are many synergies that make the acquisition an exciting opportunity. MoneyGram is actively building a world-class bill payment business. Its leadership in this business arena is supported by PropertyBridge’s pioneering technology and processes in the real estate management industry.

The acquisition provides PropertyBridge with access to MoneyGram’s global resources and network. MoneyGram gains immediate traction and market-leadership credibility within a dynamic and emerging payment services market worth over $200 billion annually.
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What will happen to the PropertyBridge brand and name?

PropertyBridge will retain its name and brand. The Company will operate as a part of MoneyGram’s Global Payment Services group.
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How will PropertyBridge and MoneyGram be integrating their technologies?

PropertyBridge shares MoneyGram’s focus on offering effective, scaleable technologies that add value, convenience and security to key payment processes. The combined teams are working hard to raise the bar in the real estate management industry and beyond.

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Are there any immediate plans to discontinue any PropertyBridge services?

No. It is not anticipated that any existing services will be discontinued as a result of the acquisition.
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Will service release cycles be affected?

No. The acquisition will not impact service release cycles.
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Where can I get more information on the acquisition?

Information is available in our news release, by contacting us by email at info@propertybridge.com or by phone at (510) 550-7211 / 866-RENT-002.
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What are the terms of the acquisition?

Financial terms of the acquisition have not been disclosed.
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When will the acquisition close?

It is expected that the acquisition will be completed in the fourth quarter of 2007.
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