CommerceHub, a provider of software solutions connecting supply, demand and delivery for retailers and brands globally, has announced the completion of its acquisition of ChannelAdvisor Corporation, for $23.10 per share in cash.
The combined company enables businesses to reach and convert more shoppers, expand their margins, and enhance the online shopping experience through drop ship, marketplace, digital advertising, and delivery management. CommerceHub now has over 18,000 customers transacting more than $50 billion in gross merchandise value (GMV) and over $500 million in digital marketing and retail media ad spend annually, with access to more than 400 marketplace and retail channels. With a significantly expanded network and portfolio of SaaS products and services, the company is positioned for growth by enabling networked commerce to make it easier for businesses to list, find and sell millions of products every day.
“Today marks an exciting new chapter for our customers all around the world,” said Bryan Dove, CommerceHub CEO. “By bringing these two businesses together, we can now empower our customers to reach more channels, expand selection, and increase sales by offering a unified set of solutions across marketplaces, drop ship, fulfilment, retail media, and more. I’m thrilled about bringing together an amazingly talented team and the opportunity to expand the breadth of what we can offer our customers across a broader network of trading partners and new channels.”
The combined company will be led by Bryan Dove. ChannelAdvisor CEO, David Spitz will work with Dove and the combined team through the end of the calendar year on the transition process.