ChannelAdvisor Sets $660 Million Deal to Go Private
September 06 2022 - 8:19AM
Dow Jones News
By Colin Kellaher
ChannelAdvisor Corp. on Tuesday said it agreed to be acquired by
privately held commerce network CommerceHub for more than $660
million in a deal led by private-equity firm Insight Partners.
CommerceHub plans to pay $23.10 a share in cash for
ChannelAdvisor, a 57% premium to Friday's closing price of $14.70
for the Morrisville, N.C., provider of cloud-based e-commerce
solutions.
In addition to CommerceHub shareholder Insight, investors
participating in the deal include GTCR, Sycamore Partners, and
Goldman Sachs Asset Management, with financing provided by Sixth
Street and Golub Capital LLC.
The deal is slated to close by the end of the year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 06, 2022 08:04 ET (12:04 GMT)
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