Gloo acquires Cedarstone as major shareholder sells thousands of shares

Gloo (Nasdaq: GLOO), a technology platform serving faith‑aligned nonprofits, announced a definitive agreement to acquire Cedarstone, an integrated business‑services firm that provides finance and development outsourcing to nonprofit organizations. The deal is intended to expand Gloo’s Applied AI strategy, adding more than 250 new network capability providers and enhancing its donor services and Gloo 360 platform. Scott Beck, Gloo co‑founder and CEO, said the acquisition will help organizations complete critical financial work more efficiently, while Cedarstone CEO Tim Barg highlighted the benefits of AI leadership and a broader set of tools for mission‑driven clients.

In parallel, Financial For Luthera Thrivent, a major shareholder, disclosed a series of sales of Gloo stock. On August 5 the firm sold 6,000 shares at an average price of $3.43, totaling $20,580 and reducing its holding by 0.14%. Earlier transactions in July and early August involved sales ranging from 100 to 125,000 shares at prices between $2.98 and $3.98 per share, cumulatively representing a significant reduction in its stake.