Commerce network CommerceHub is to acquire cloud-based eCommerce solution provider ChannelAdvisor for $23.10 per share — a 57% premium over the company’s Friday (Sept. 2) closing stock price.
The combined company will bring together CommerceHub’s network that connects supply, demand and delivery for retailers and brands, and ChannelAdvisor’s multichannel commerce platform that enables retailers and brands to increase global sales, according to a Tuesday (Sept. 6) press release.
When these capabilities are brought together, the new combo will enable brands to manage their marketplaces alongside their retailer connections with a single vendor and will give retailers access to a larger pool of brands, per the release.
“CommerceHub and ChannelAdvisor have both established themselves as leading solutions for different segments of online retailers and brands,” CommerceHub CEO Bryan Dove said in the release. “By coming together, we can provide an even broader network, enabling our combined customers to grow their businesses by discovering new products, new brands and new channels.”
The proposed transaction was unanimously approved by the boards of directors of both companies, and it’s expected to close in 2022, according to the release.
“This is a tremendous opportunity for our customers, for our team members and our shareholders,” ChannelAdvisor CEO David Spitz said in the release. “This transaction positions the combined company to accelerate innovation and help shape the future of commerce.”
CommerceHub was founded in 1997, was acquired by Liberty Interactive in 2010 and spun off on its own in 2016.
Read more: CommerceHub Spinning off on Its Own
As PYMNTS reported at the time, the company connected retailers with supplies, creating a “virtual inventory,” and then made sure the products arrived on time at the retailer’s doorstep.
Dove joined CommerceHub as CEO in May 2021, saying at the time in a press release, “As retailers and brands face a significant shift in omnichannel retail and accelerating eCommerce adoption, companies are looking for trusted partners to help them navigate this change.”
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