CommerceHub to acquire outstanding shares of ChannelAdvisor for $23.10 per share

Sep. 06, 2022 8:05 AM ETChannelAdvisor Corporation (ECOM)By: Mary Christine Joy, SA News Editor2 Comments

Omni channel technology of online retail business.

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  • Industry-leading commerce network CommerceHub entered into a definitive agreement to acquire the outstanding shares of cloud-based e-commerce solutions provider ChannelAdvisor (NYSE:ECOM) for $23.10 per share.
  • The cash price represents a premium of ~57% over the company's Sep. 2 closing stock price.
  • The transaction, subject to customary closing conditions, including receipt of regulatory approvals and approval by ChannelAdvisor's shareholders, has been approved by the boards of both companies.
  • The transaction was led by global software investor and current shareholder of CommerceHub, Insight Partners. It also saw participation from GTCR, Sycamore Partners and Goldman Sachs Asset Management.
  • Sixth Street and Golub Capital are financing the transaction, expected to close in 2022.
  • Baird is serving as financial advisor and Cooley is a legal counsel to ChannelAdvisor. Stifel and District Capital Partners are serving as financial advisors to CommerceHub, while Willkie Farr & Gallagher is acting as legal advisor to CommerceHub.
  • ECOM shares were trading +53.88% pre-market.
  • Source: Press Release

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