ChannelAdvisor to Acquire Rival Marketworks
ChannelAdvisor announced today that they will acquire Marketworks for some undisclosed amount (right now), see the press release below. As this develops further we will discuss what the implications might be for those using both MW's and CA's integration systems. Just off the top of my head, I would say the Marketworks people should see an increase in customer service and products offered by Channel Advisor (just from dealing with both companies), but it does say a little about the industry as a whole, especially how it might effect eBay in the long run. One reason both of these companies exist is to provide support for larger sellers on the eBay platform. Does this indicate a kink in the eBay armour or perhaps a trend that says some larger sellers are trying to move off of eBay's platform and survive on their own? It could be that the market is just not big enough to support two companies doing basically the same thing.
Some have said, thank goodness the acquisition was ChannelAdvisor buying Marketworks and not the other way around, I know several very nervous Channel Advisor customers that don't know what is in store for them down the road. We will see soon enough I guess.
ChannelAdvisor Acquires Marketworks Combination cements ChannelAdvisor as top e-commerce channel management solution provider
Research Triangle Park, NC â€“ September 12, 2007 - ChannelAdvisor, the leading provider of e-commerce channel management solutions, announced today that it has acquired Marketworks, a leader in marketplace management software and services.
â€œAcquiring Marketworks solidifies our leadership position and reinforces our commitment to the marketplace segment,â€ says Scot Wingo, Chief Executive Officer of ChannelAdvisor. â€œWe will continue to evaluate other opportunities in this and other e-commerce channel segments as they arise.â€
â€œMarketworks is excited to join forces with ChannelAdvisor,â€ says Doug Hadaway, Chief Executive Officer of Marketworks. â€œThis partnership will lead to great things for both companyâ€™s customers and partners.â€
Following this acquisition ChannelAdvisor will have:
- 5,500 customers on a global basis
- $2,500,000,000 in annualized GMV (Gross Merchandise Value)
- Operating offices in
- Research Triangle Park, North Carolina
- Seattle, Washington
- Atlanta, Georgia
- Bacharach and Berlin, Germany
- London, England
- Melbourne, Australia
ChannelAdvisor will continue to support and invest in Marketworksâ€™ customers and products.
I am putting together some bullet points for some quick observations and will post them soon. Most of the information I have located at this point just reposts the press release (as seen above) and offers no further information, we will try to dig some up and post it here.