WeCommerce Holdings Ltd. has closed its acquisition of all of the assets of Stamped.io Ltd. for up to $110 million.
Stamped offers a suite of software which enables Shopify merchants to collect and feature customer reviews and product ratings, and to create their own loyalty and rewards programs, which facilitate customer conversion and retention. Despite Stamped’s leadership position, the company believes there are opportunities to optimize Stamped’s business by accelerating customer acquisition and deploying WeCommerce’s practices.
“We are thrilled to officially welcome Stamped to the WeCommerce family,” said Chris Sparling, CEO of WeCommerce. “We are extremely excited about Stamped’s growth potential in the years ahead.”
“WeCommerce is the perfect partner to help grow Stamped into a leading provider of customer engagement solutions for online merchants globally.” said Tommy Ong, founder of Stamped.
The upfront cash portion of the consideration was funded with approximately US$35 million of cash on hand and approximately $40 million of borrowings under the company’s new senior secured credit facility led by JP Morgan Chase Bank NA Toronto Branch.