CommerceHub has agreed to purchase the 27.5 million outstanding shares of ChannelAdvisor in a cash deal for $23.10 per share, or approximately $635 million — an approximately 57% premium over the company’s Sept. 2, 2022 stock price. The deal, which will take ChannelAdvisor private, is not subject to financing conditions and has been approved by both companies’ boards.
The combined companies will offer retailers access to a large pool of brands, with more than 18,000 customers transacting $50 billion+ in GMV and more than $500 million in digital marketing and retail media ad spend. Brands will be able to manage both public and private marketplaces alongside their retailer connections via a single vendor, unifying first-party, dropship and third-party integrations.
Investors participating in the transaction included Insight Partners, GTCR, Sycamore Partners and Goldman Sachs Asset Management, with financing provided by Sixth Street and Golub Capital LLC.
“CommerceHub and ChannelAdvisor have both established themselves as leading solutions for different segments of online retailers and brands,” said Bryan Dove, CEO of CommerceHub in a statement. “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.”
“This is a tremendous opportunity for our customers, for our team members and our shareholders,” said David Spitz, CEO of ChannelAdvisor in a statement. “This transaction positions the combined company to accelerate innovation and help shape the future of commerce.”