Online fulfillment provider CommerceHub Inc. entered an agreement Tuesday to be acquired by two private equity firms in a deal worth about $1.1B, according to reports.
:quality(75))
The distributed commerce network helps retailers compete against the likes of Amazon by connecting global brands like Walmart and Best Buy to suppliers with infrastructure in place to ship products to customers, the Wall Street Journal reports.
Private equity firms Sycamore Partners and GTCR LLC will acquire CommerceHub in an all-cash deal for $22.75/share, nearly a 25% premium over the company’s current stock price. Founded in Albany, New York, in 1977, CommerceHub brought in about $111M in revenue and $10M in earnings in 2017.
In addition to Walmart and Best Buy, the tech company recently signed a deal with Macy’s Inc. Other customers include Kmart, Sears, J.C. Penney and Toys R Us — many of which are suffering from store closures and have filed for bankruptcy protection.
)
)
)
)
)
)
)
)
){kind=logo}
)
)
)