ChannelAdvisor Aquires MarketWorks eCommerce Software Solution
Earlier today I caught word that ChannelAdvisor has announced the acquisition of a competing eCommerce services company, Marketworks. The purchase price was not mentioned by my source.
Both ChannelAdvisor and Marketworks offer similar eCommerce channel/marketplace products and services, the main difference between the two are their customers. ChannelAdvisor mainly services larger merchants while Marketworks specializes in products and services for small to medium sized merchants. Marketworks services eTailers that sell as little as $1,000 per month, but ChannelAdvisor’s smallest merchant clients sell fromf $30,000 to $50,000 each month. The deal will bring in 2,000 new merchants for ChannelAdvisor bringing their total client count to around 5,500 on a global basis. ChannelAdvisor states they will continue to invest in Marketworks customers and products.
Here’s what Scot Wingo, Chief Executive Officer of ChannelAdvisor had to say about the acquisition:
Acquiring Marketworks solidifies our leadership position and reinforces our commitment to the marketplace segment. We will continue to evaluate other opportunities in this and other e-commerce channel segments as they arise.
Here’s what Doug Hadaway, Chief Executive Officer of Marketworks had to say about the acquisition:
Marketworks is excited to join forces with ChannelAdvisor. This partnership will lead to great things for both company’s customers and
partners.
I got the indication that this won’t be the only acquisition ChannelAdvisor makes in the coming months. It seems like they are really trying to expand on their customer reach, technology and other important areas of their business while removing the competition from the playing field. Smart move as long as they invest in good technology and quality services from companies with customers who they do not yet target. This particular acquisition seemed like a great pickup for the team over at ChannelAdvisor, which now maintains offices in several cities across the globe including Seattle, Atlanta, Berlin, London, Melbourne and a few more.
From the original press release:
ChannelAdvisor will now have:
- 5,500 customers on a global basis
- $2,500,000,000 in annualized GMV (Gross Merchandise Value)
- Operating offices in
- Research Triangle Park, North Carolina
- Seattle, Washington
- Atlanta, Georgia
- Bacharach and Berlin, Germany
- London, England
- Melbourne, Australia
I look forward to seeing what the team over at ChannelAdvisor has in store next. Pretty exciting things going on over there it sounds like. Good luck.
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