The Technology M&A team advised Deliverr, Inc. on its agreement to be acquired by Shopify Inc. (NYSE, TSX: SHOP). Under the terms of the agreement, Shopify will acquire all of Deliverr’s outstanding securities in a transaction valued at approximately $2.1 billion, consisting of approximately 80% in cash and 20% in Shopify Class A Subordinate Voting Shares.
Deliverr is an e-commerce fulfillment and technology company that provides fast and affordable fulfillment services to e-commerce merchants on marketplace platforms.
Shopify is a leading provider of essential internet infrastructure for commerce, offering trusted tools to start, grow, market, and manage a retail business of any size.
The acquisition is expected to provide simplicity and scale to millions of merchants, and to remove the complexity of fragmented supply chain management. With the addition of Deliverr’s network management software; team of software engineers, operations experts and customer champions with deep domain expertise; and asset-lite network of warehouse, carrier, and last mile partners, Shopify gains visibility and control of movements along the supply chain, empowering merchants to offer and achieve fast delivery promises across channels.
The Goodwin team included Nathan Hagler, Justin Smith, William Stanton, and Daisy Beckner (M&A); John Casnocha, and Hilarie Sexton Bellis (Corporate); Monica Patel, Andre Amorim, and Chris Jones (ERISA & Executive Compensation); Kelsey Lemaster and Garrett Gaughan (Tax); James Riley, Kevin Liu, JB Schiller, and Jinny Kim (Intellectual Property); Arman Oruc and Brady Cummins (Antitrust); Jacqueline Klosek and Federica De Santis (Data, Privacy & Cybersecurity); and Cecelia Lockner (Insurance).
Goodwin’s corporate team has advised Deliverr since incorporation and throughout its entire corporate lifecycle including all of its fundraising transactions.
Goodwin’s recent Technology M&A transactions also include SailPoint’s pending sale to Thoma Bravo for $6.9 billion; Citrix Systems’ $16.5 billion pending sale to affiliates of Vista Equity Partners and Evergreen Coast Capital; and Mimecast’s $5.8 billion pending sale to funds advised by Permira.
For more details on the Deliverr acquisition, read the press release.