The Technology team advised 6 River Systems on its sale to Shopify.
6 River Systems is a leading provider of collaborative warehouse fulfillment solutions. With the acquisition, leading multi-channel commerce platform Shopify will add a team with decades of experience in fulfillment software and robotics, including experienced leaders from Kiva Systems (now Amazon Robotics). Adding 6 River Systems’ cloud-based software and collaborative mobile robots called “Chuck” to the Shopify Fulfillment Network will increase the speed and reliability of warehouse operations, by empowering on-site associates with daily tasks, including inventory replenishment, picking, sorting and packing.
Under the terms of the agreement, Shopify will acquire all of 6 River Systems’ outstanding securities in a transaction valued at approximately USD$450 million, consisting of approximately 60% in cash and 40% in Shopify Class A Subordinate Voting Shares. Included in this amount are Shopify Class A shares and options valued at approximately $69 million that will be issued to 6 River Systems’ founders and employees that will vest subject to certain conditions and will be treated as stock-based compensation.
The Goodwin team was led by partners Bill Schnoor and Jared Fine, and included partners Janet Andolina, Steve Charkoudian, Chris Stamos, Sarah Bock, Paul Jin and Tony Fiotto, counsel Ken Radcliffe, Kara Kuritz, Jacob Osborn and Ai Tajima, associates Matt Reardon, Alex Plaum, Riley Lovendale, Morgan Frisoli, Elizabeth Doyon, Tim Holahan and Ana Alvarado, paralegal Coleen Doyle, and financial analysts Scott Zilora and Jay Yaworksy.
For more details, read the press release.