Subject to various closing conditions, the acquisition is expected to close in the fourth quarter of 2019. With the acquisition of 6 River Systems, Shopify will add a team with decades of experience in fulfillment software and robotics, including experienced leaders from Kiva Systems (now Amazon Robotics). Shopify deal values 6 River Systems at 60 times revenue $450m price paid for 6 River Systems – particularly as $270m of it will be paid in cash – may raise a few eyebrows Shopify Shopify (SHOP) - Get Report said late Monday it is acquiring 6 River Systems for $450 million in cash and stock. These forward-looking statements are based on Shopify’s current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by Shopify in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. They help us get to know you a little and how you use our website. The forward-looking statements contained in this news release represent Shopify’s expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Merchants use Shopify to design, … With the acquisition of 6 River System, Shopify will add an experienced team in fulfillment software and robotics. We brought in the experts from Deloitte, 6 River Systems, and UPS to share best practices for supply chain and logistics management during a pandemic. Acquirer Name . 6 River Systems is backed by Menlo Ventures, Norwest Venture Partners, Eclipse Ventures and iRobot, having raised US $40 million from the backers in two rounds of financing. Shopify will maintain the 6 River Systems brand and headquarters in Waltham, MA. Shopify, an e-commerce platform used by about 800,000 businesses around the world, has reached an agreement to acquire 6 River Systems, a supplier of collaborative warehouse robots and fulfillment solutions.. OTTAWA, Canada & WALTHAM, MA – September 9, 2019 – Shopify Inc. (NYSE: SHOP) (TSX: SHOP), the leading multi-channel commerce platform, today announced that it has reached an agreement to acquire 6 River Systems, Inc., a leading provider of collaborative warehouse fulfillment solutions. It was just last year that we announced our investment in 6 River Systems.Today, we’re celebrat i ng the news that Shopify is acquiring them for $450M. Shopify, a leading multi-channel commerce platform, has announced an agreement to acquire 6 River Systems, a leading provider of collaborative warehouse fulfillment solutions.. Under the terms of the agreement, which has been approved by 6 River Systems’ stockholders, Shopify will acquire all of 6 River Systems’ outstanding securities in a transaction valued at approximately … Our team is continuing to hire and onboard new members as we further improve our offering and discover new … Shopify will maintain the 6 River Systems brand and headquarters in Waltham, MA. Acquirer Name . Adding robotics capabilities to its new fulfillment service launched in June, major SMB ecommerce platform Shopify is acquiring 6 River Systems for $450 million, the companies announced, … ... Shopify Plus Customer Success Manager, Greg MacDonald, founded and runs his own store, Bathorium. Adds Collaborative Robotic Fleet to the Shopify Fulfillment Network Shopify Inc. (NYSE: SHOP)(TSX: SHOP), the leading multi-channel commerce platform, today announced that it has reached an agreement to acquire 6 River Systems, Inc., a leading provider of collaborative warehouse fulfillment solutions. “With 6 River Systems, we will bring technology and operational efficiencies to companies of all sizes around the world.”. Founded in Waltham, Mass. 6 River Systems. Terms and Financial Impact Add Acquisitions filter . Shopify to Acquire 6 River Systems for $450 Million. At 6 River Systems, one of our core values is “we all win when our customers win.” We … The deal will gain Shopify additional capacity for … Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond Shopify’s control, including but not limited to: (i) merchant acquisition and retention; (ii) managing our growth, including risks associated with acquisitions and investments and the challenges and costs of integration, restructuring, and achieving anticipated synergies; (iii) our history of losses; (iv) our limited operating history; (v) our ability to innovate; (vi) a disruption of service or security breach; (vii) payments processed through Shopify Payments; (viii) our reliance on a single supplier to provide the technology we offer through Shopify Payments; (ix) the security of personal information we store relating to merchants and their customers, and consumers with whom we have a direct relationship; (x) evolving privacy laws and regulations, cross-border data transfer restrictions, data localization requirements and other domestic or foreign regulations; (xi) our potential inability to hire, retain and motivate qualified personnel; (xii) international sales and the use of our platform in various countries; and (xiii) other one-time events and other important factors disclosed previously and from time to time in Shopify’s filings with the U.S. Securities and Exchange Commission and the securities commissions or similar securities regulatory authorities in each of the provinces or territories of Canada. in 2015, 6 River Systems is a leading collaborative mobile robotics fulfillment solution provider and part of global commerce company Shopify Inc. includes any. While the acquisition of 6 River Systems itself and Shopify’s strategy with robotics is not so surprising, the US$450m price paid for warehouse automation and management technology developer (60% paid in cash and 40% in Shopify … This press release contains certain forward-looking statements within the meaning of applicable securities laws, including statements regarding Shopify’s plan to build a global fulfillment network and its size, scope and capabilities, the expected closing of the acquisition and the timing thereof, and Shopify’s financial outlook and future financial performance. Shopify to Acquire 6 River Systems Adds Collaborative Robotic Fleet to the Shopify … Words such as "expects", "continue", "will", “plans”, "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. Orrick advised Shopify Inc., the leading cloud-based, multi-channel commerce platform, in its proposed acquisition of 6 River Systems. About Shopify Shopify is the leading multi-channel commerce platform. Shopify is buying 6 River Systems, six-year-old warehouse automation, and industrial robotics startup, for $450 million, the company announced on Monday. News Release. Shopify undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Katie Keita The transaction is expected to have no material impact to Shopify’s revenue in 2019. With the addition of the company's cloud-based software and collaborative mobile robots, known as Chuck, to the Shopify … Shopify acquired 6 River Systems for $450 million in September 2019, just three months after unveiling its Shopify Fulfillment Network, which uses … Facebook, Microsoft, Zillow. The acquisition will take place in the final quarter of 2019. In June, Shopify introduced the Shopify … Although Shopify believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that actual results will be consistent with these forward-looking statements. Adds Collaborative Robotic Fleet to the Shopify Fulfillment Network. Although Shopify believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that actual results will be consistent with these forward-looking statements. 6 River Systems was founded in Waltham, Mass. “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. The team at Menlo is proud to have … Ecommerce software company Shopify will purchase warehouse robotics startup 6 River Systems in a $450 million deal aimed at improving logistics in its new system of fulfillment centers. Included in this amount are Shopify Class A shares and options valued at approximately $69 million that will be issued to 6 River Systems’ founders and employees that will vest subject to certain conditions and will be treated as stock-based compensation. The deal is meant to help Shopify … Multi-channel commerce platform Shopify Inc. has reached an agreement to acquire 6 River Systems, Inc., a leading provider of collaborative warehouse fulfilment solutions as part of its efforts to grow the Shopify … Forward-Looking Statements Shopify acquires 6 River Systems for $450 million to expand its AI-powered fulfillment network Shopify today announced it is acquiring 6 River Systems, a … Operator. This will enable Shopify to help thousands of businesses improve their fulfillment operations, while 6 River Systems will continue to expand its industry-leading solution for warehouses. … In June, Shopify introduced the Shopify Fulfillment Network, a powerful and trusted fulfillment network that will ensure … We use cookies on our website. These projections, expectations, assumptions and analyses are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results, performance, events and achievements to differ materially from those anticipated in these forward-looking statements. Adding 6 River Systems’ cloud-based software and collaborative mobile robots called “Chuck” to the Shopify Fulfillment Network will increase the speed and reliability of warehouse … It’s logical to expect a bit of moderation as businesses reopen. Shopify Shopify (SHOP) - Get Report said late Monday it is acquiring 6 River Systems for $450 million in cash and stock. Shopify Inc. SHOP, +2.24% said late Monday it has agreed to buy 6 River Systems Inc. as part of a "critical attempt" to grow its fulfillment and deliveries business. Shopify … 6 River Systems. 6 River Systems, part of global commerce company Shopify, is transforming fulfillment for companies worldwide. Shopify will maintain the 6 River Systems brand and headquarters in Waltham, MA. Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond Shopify’s control, including but not limited to: (i) merchant acquisition and retention; (ii) managing our growth, including risks associated with acquisitions and investments and the challenges and costs of integration, restructuring, and achieving anticipated synergies; (iii) our history of losses; (iv) our limited operating history; (v) our ability to innovate; (vi) a disruption of service or security breach; (vii) payments processed through Shopify Payments; (viii) our reliance on a single supplier to provide the technology we offer through Shopify Payments; (ix) the security of personal information we store relating to merchants and their customers, and consumers with whom we have a direct relationship; (x) evolving privacy laws and regulations, cross-border data transfer restrictions, data localization requirements and other domestic or foreign regulations; (xi) our potential inability to hire, retain and motivate qualified personnel; (xii) international sales and the use of our platform in various countries; and (xiii) other one-time events and other important factors disclosed previously and from time to time in Shopify’s filings with the U.S. Securities and Exchange Commission and the securities commissions or similar securities regulatory authorities in each of the provinces or territories of Canada. Shopify Inc., the Canadian e-commerce giant, paid 60% in cash and 40% in shares for … This is the second straight year on the RBR50 list for 6 River Systems, which last year was acquired by e-commerce giant Shopify for nearly $500 million. The deal will gain Shopify additional capacity for fulfillment. “With 6 River Systems, we will bring technology and operational efficiencies to companies of all sizes around the world.”. Merchants use Shopify to design, set up, and manage their stores across multiple sales channels, including mobile, web, social media, marketplaces, brick-and-mortar locations, and pop-up shops. The platform also provides merchants with a powerful back-office and a single view of their business, from payments to shipping. About Shopify Robinson, Manager of North American Trade Policy & Compliance National diesel average heads up, for week of November 9, reports EIA Pacific Rim: More cargo at risk … 416-238-6705 x 302 Shopify to Acquire 6 River Systems Adds Collaborative Robotic Fleet to the Shopify Fulfillment Network OTTAWA, Ontario & WALTHAM, Mass.--(BUSINESS WIRE)--Shopify Inc. (NYSE: SHOP)(TSX: SHOP), the leading multi-channel commerce platform, today announced that it has reached an agreement to acquire 6 River Systems, Inc., a leading provider of collaborative warehouse fulfillment solutions. Shopify is the leading multi-channel commerce platform. Shopify is the leading multi-channel commerce platform. The forward-looking statements contained in this news release represent Shopify’s expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Its adjusted EPS did drop 30% but this is due to 6 River Systems being integrated into its new fulfillment network. Adding robotics capabilities to its new fulfillment service launched in June, major SMB ecommerce platform Shopify is acquiring 6 River Systems for $450 million, the companies announced, making it the first platform firm with this capability for its ecommerce seller customers worldwide. Shopify is the leading multi-channel commerce platform. About Shopify Shopify is the leading multi-channel commerce platform. Shopify (NYSE: SHOP), which offers commerce platforms for both traditional and e-commerce retailers, will acquire 6 River Systems as a means to increase fulfillment efficiency in Shopify warehouses. 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