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Shopify signs deal to buy logistics company Deliverr for US$2.1 billion

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Shopify Inc. announced a deal Thursday to buy logistics company Deliverr Inc. in a deal valued at about US$2.1 billion.

Shopify Inc. announced a deal Thursday to buy logistics company Deliverr Inc.Under the agreement, Shopify will pay about 80 per cent of the purchase price in cash and 20 per cent in Shopify shares.

"Our goal is to not only level the playing field for independent businesses, but tilt it in their favour -- turning their size and agility into a superpower," Shopify CEO Tobi Lutke said in a statement. Shopify said the deal will strengthen its ability to offer merchants simplified inventory management, demand-driven inventory balancing and fast delivery.The transaction is expected to close following regulatory review.

The result compared with a profit of US$1.3 billion or US$9.94 per diluted share on US$988.6 million in revenue in the same quarter last year.

 

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Shopify reaches deal to buy logistics company Deliverr for US$2.1 billion - National | Globalnews.caUnder the agreement, Shopify will pay about 80 per cent of the Deliverr purchase price in cash and 20 per cent in Shopify shares, the company says.
Source: GlobalNational - 🏆 81. / 51 Read more »