Online marketplace software company VTEX announced this week it acquired cloud commerce platform Workarea for an undisclosed amount.
The acquisition expands VTEX’s customer base in the United States and Canada, and VTEX will add 35 new retailers to its client roster, including apparel retailer Reformation (No. 363 in the 2020 Digital Commerce 360 Top 1000), mattress retailer Sleep Number Corp. (No. 361) and The Bouqs Co. (No. 649). VTEX says it has more than 3,500 total customers, including Walmart Inc. (No. 3), Whirlpool (No. 693), Coca-Cola, Stanley Black & Decker and Nestlé, that use its platform in 45 countries.
Workarea’s customers have added more than $1 billion in gross merchandise volume (GMV) to VTEX, and will account for 20% of its total GMV in the U.S. and Canada, the companies said in a press release announcing the acquisition. Workarea’s seven retail customers that are ranked in the Top 1000 total $493.9 million in annual web sales, according to Top500Guide.com.
“We’re excited for our employees, customers and partners to have the opportunity to work with VTEX and leverage VTEX’s advanced technology and capabilities to expand their futures,” says Darren Hill, CEO and co-founder of Workarea.
Workarea’s retail customers will have access to VTEX’s software, which will enable them to build their own marketplaces. In addition, its retail customers will be able to add omnichannel services, such as buy online pick up in store, ship-from-store and drop-ship capabilities. VTEX will also add 100 of Workarea’s U.S. employees to its company.
“[This is a] great move for both VTEX and Workarea,” says Arthur McManus, chief technology officer, FitForCommerce. “This acquisition expedites VTEX’s much-needed North American client footprint. This is also a big win for Workarea customer base as they now have VTEX’s financial strength and vision to support not only their omnichannel ecommerce business, but also provide a platform that can open countless marketplace opportunities.”
Favorite