Shopify buys warehouse automation tech developer 6 River Systems for $450 million – gpgmail

Shopify, the shopping technology developer that’s quickly becoming the anti-Amazon, has taken another step up the sales supply chain with its $450 million acquisition of the warehouse automation and management technology developer, 6 River Systems.

The acquisition will serve to boost efficiencies among Shopify’s Fulfillment Network service which launched in . June.

The acquisition gives Shopify access to the robotics experts who helped develop Amazon’s own robotics business when they were at Kiva Systems (before Amazon acquired that company). j

“Shopify is taking on fulfillment the same way we’ve approached other commerce challenges, by bringing together the best technology to help everyone compete,” said Tobi Lütke, CEO of Shopify, in a statement. “With 6 River Systems, we will bring technology and operational efficiencies to companies of all sizes around the world.”

The deal, which was approved by 6 Rivers’ investors including Menlo Ventures, Norwest Venture Partners, and Eclipse Partners, was a mix of cash and stock totaling $450 million with around $69 million worth of Shopify Class A shares set aside for 6 River Systems’ employees and founders that will vest subject to certain conditions.

Shopify said in a statement that the transaction would have no material effect on the company’s revenue in 2018. It’s expected to increase the company’s expenses by $25 million — including $10 million in operating expenses, $8 million in amortization of intangible assets; and $7 million in stock-based compensation.

Shopify estimated that 6 River Systems will have annual revenues of roughly $30 million in 2020.

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