Square has entered into a definitive agreement to acquire Weebly, a web site solution provider, for approximately $365 million.
Weebly has more than 625,000 paid subscribers for its premium web site design and hosting, online store and marketing tools. These services will be complemented by the managed payments, hardware and software offered by Square.
The combined solutions will provide retailers with an integrated suite of services designed to handle tasks such as engaging with customers, managing orders, growing sales and making informed business decisions. Nearly 40% of Weebly’s paid subscribers are outside the U.S., which will help accelerate Square’s global expansion.
“Omnichannel commerce is our top focus area in 2018,” said Alyssa Henry, Seller Lead at Square in a statement. “From managing orders, appointments and payments to building a web site, running a business is complex, and entrepreneurs around the world want powerful and intuitive tools.”
The transaction is expected to close in Q2 2018.