WeCommerce Holdings Ltd. (“WeCommerce” or the “Company”) (TSXV: WE), a leading provider of ecommerce enablement software and tools for merchants, today announced the successful closing of the previously-announced acquisition (the “Acquisition”) of Kno Technologies Inc. (“KnoCommerce”).
KnoCommerce is a leading ecommerce survey and insights platform provider that enables merchants to capture and act on zero-party data collected directly from customers. Through embeddable surveys and response-driven actions coupled with deep integrations, KnoCommerce helps merchants build up owned customer data and attribute customers to any channel, ensuring each customer can be nurtured throughout the discovery, conversion, and retention lifecycle.
"I’m thrilled to formally welcome the KnoCommerce team to our growing portfolio of companies and brands," said WeCommerce CEO Alex Persson. “KnoCommerce has a superior management team tackling one of today’s biggest industry challenges and opportunities. Their business is also highly complementary to our existing portfolio, and we’re looking forward to partnering with them to accelerate their growth trajectory. As zero-party data continues to play an increasingly vital role in ecommerce and overall customer understanding, KnoCommerce is well positioned to become the leading zero-party data platform for merchants worldwide.”
KnoCommerce was incubated by Lunar Solar Group, a leading ecommerce and digital growth consultancy. KnoCommerce will be led by current CEO Jeremiah Prummer and will operate as an independent brand within the WeCommerce portfolio. This acquisition furthers WeCommerce’s strategy to build, acquire and invest in the world’s top ecommerce technology businesses.
About WeCommerce Holdings Ltd.
WeCommerce provides merchants with a suite of ecommerce software tools to start and grow their online stores. Our family of companies and brands includes Pixel Union, Out of the Sandbox, KnoCommerce, Archetype, Yopify, SuppleApps, Rehash, Foursixty and Stamped. As one of Shopify’s first partners since 2010, WeCommerce is focused on building, acquiring, and investing in leading technology businesses operating in the Shopify partner ecosystem.
For more about WeCommerce, please visit www.wecommerce.co or refer to the public disclosure documents available under WeCommerce’s SEDAR profile on SEDAR at www.sedar.com.
Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and forward-looking statements in this press release includes, but is not limited to, information and statements regarding: the anticipated benefits of the acquisition; the Company’s revenue and cash flow upon completion of the acquisition, the Company's belief that the acquisition will provide value to shareholders and expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to various risks as set out herein.
Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the potential impact of the announcement or consummation of the acquisition on relationships, including with regulatory bodies, stock exchanges, lenders, employees and competitors; the diversion of management time on the acquisition; assumptions concerning the acquisition and the operations and capital expenditure plans of the Company following completion of the acquisition; credit, liquidity and additional financing risks for the Company and its investees; stock market volatility; changes in e-commerce industry growth and trends; changes in the business activities, focus and plans of the Company and its investees and the timing associated therewith; the Company's actual financial results and ability to manage its cash resources; changes in general economic, business and political conditions, including challenging global financial conditions and the impact of the novel coronavirus pandemic; competition risks; potential conflicts of interest; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and the other risk factors more fully described in the Company's short form prospectus dated July 2, 2021 prepared in connection with the offering of certain shares, which is available on the Company's profile on SEDAR at www.sedar.com
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
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