WeCommerce Holdings Ltd. (“WeCommerce” or the “Company”) (TSXV:WE), a leading provider of ecommerce enablement software and tools for merchants, today announced that yesterday it signed a definitive purchase agreement to acquire Kno Technologies Inc. (“KnoCommerce”), a leading ecommerce survey and insights platform provider that enables merchants to capture and act on zero-party data collected directly from customers.
KnoCommerce partners with leading brands to help them understand their customers through advanced zero-party data collection and segmentation. 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.
“In the post-iOS14 world, the entire ecommerce industry is looking for solutions to address customer attribution challenges and to develop their own customer data,” said WeCommerce CEO Alex Persson. “KnoCommerce is the answer. Leading brands such as OLIPOP, Jones Road Beauty and Aura Bora rely on KnoCommerce to power customer attribution and insights. With KnoCommerce’s strong leadership and domain expertise, we are confident that KnoCommerce will become the go-to zero-party data platform for merchants worldwide.”
“Our mission is to help every DTC brand better reach, engage, and understand their customers”, said KnoCommerce CEO Jeremiah Prummer. “WeCommerce shares our vision and gives us the added resources and expertise we need to reach even more brands. Owned data is the future, and we are so excited about what we will achieve together.”
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.
Acquisition Overview
The acquisition of KnoCommerce is an arm’s length transaction that is expected to constitute an “Expedited Acquisition” pursuant to Policy 5.3 – Acquisition of Cash and Dispositions of Non-Cash Assets of the TSX Venture Exchange (the “TSXV”) and is subject to customary closing conditions, including TSXV approval, receipt of certain third-party consents and the other conditions set out in the purchase agreement. Subject to the satisfaction of such conditions, the acquisition is expected to close within the next 45 days. WeCommerce expects to fund the upfront consideration with cash on hand. The earn-out component, if achieved, is payable in cash, shares, or a mix thereof, at the Company’s sole discretion.
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