Canadian e-commerce company Shopify has closed the deal to acquire US-based warehouse fulfilment solutions provider 6 River Systems.
The transaction covers all of 6 River Systems’ outstanding securities for a total consideration of approximately $450m, including 60% in cash and 40% in Shopify Class A Subordinate Voting Shares.
The deal, which was announced in September this year, will expand Shopify Fulfilment Network and accelerate its growth. It will see the addition of cloud-based software and a fleet of collaborative mobile robots, Chuck, from 6 River Systems.
Shopify expects this move to support on-site employees with their daily tasks, such as inventory replenishment, picking, sorting and packing, as well as increase the speed and reliability of its warehouse operations.
At the time of the purchase announcement, 6 River Systems co-CEO and co-founder Jerome Dubois said: “By joining Shopify, we’re changing the game of fulfilment. Together, we will help thousands of businesses improve their fulfilment operations, with an easy-to-learn solution that can more than double productivity and improve accuracy.”
Shopify will continue to operate the fulfilment solutions brand from its headquarters in Waltham, Massachusetts.
As part of the agreement, a team of more than 130 employees from 6 River will join Shopify and will assist the company with expertise in fulfilment software and robotics.