Endurance International Group Holdings (NASDAQ:EIGI), a company that focuses on online solutions for small to medium-sized businesses (SMB), and stays behind the umbrella holding of many WordPress hosting providers (check the EIG list), signed an agreement to acquire eCommerce firm, Ecomdash for US$9.6 million in cash.
Ecomdash is a software solutions provider that enables inventory management, distribution, and multichannel marketplace listings for eCommerce retailers.
From the press release:
“We are impressed with the Ecomdash management team, and the emphasis the company has placed on delivering valuable product features to its growing customer base,” said Jeffrey H. Fox, president and chief executive officer of Endurance. “We see an opportunity to enhance the value we deliver to our customers by leveraging the team’s expertise and platform. We look forward to welcoming the entire team to Endurance and to investing to make these capabilities available across our email marketing and web presence platforms.”
“We couldn’t be more excited to join the Endurance family,” said Nick Maglosky, chief executive officer of Ecomdash. “We believe our inventory and listing management platform will provide a strong complement to Endurance’s current product set as we continue to jointly serve our customer base in this large and growing market for SMB services.”
Ecomdash is located in Charlotte, North Carolina. Under the terms of the definitive agreement, Endurance will acquire substantially all assets of Ecomdash for approximately $9.6 million to be paid in cash. The closing of the transaction is subject to customary closing conditions and is expected to close on or before October 1, 2019. Subject to the closing of the transaction, the Company expects to provide additional information on its third quarter 2019 financial results conference call