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 story : E-commerce platform Global-e to acquire tech company in deal valued up to 0 million #FinanceUSA #StockMarketNEWS E-commerce platform Global-e Online Ltd. announced it will acquire technology Flow

@stockMarketNEWS 13 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

E-commerce platform Global-e to acquire tech company in deal valued up to 0 million #FinanceUSA #StockMarketNEWS
E-commerce platform Global-e Online Ltd. announced it will acquire technology Flow Commerce Inc. in a deal valued up to 0 million. The transaction includes a base consideration of 5 million and up to million based on certain 2021 results, plus million in Global-e shares "for certain assumed, performance-based vesting warrants for Flow shares." The transaction is expected to close in the first quarter of 2022. Flow is expected to generate million in net revenue in calendar 2021. The acquisition aims to help Global-e reach small merchants who can't currently use the company's services. The deal is expected to encroach on certain cross-border services that are part of an exclusive relationship with Shopify Inc. As a result, Global-e will issue a warrant for approximately million in shares to Shopify. Global-e stock has tumbled 25.8% over the last three months while the S&P 500 index is up 4.6% for the period.


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