Shopify to buy 6 River Systems for 450 million dollars

Multi-channel ecommerce platform Shopify Inc. has reached an agreement to acquire 6 River Systems, Inc., provider of collaborative warehouse fulfilment solutions. The company announced through a statement that under the terms of the agreement, Shopify will acquire all of 6 River Systems’ outstanding securities for approximately 450 million dollars, consisting of around 60 percent in cash and 40 percent in Shopify Class A Subordinate Voting Shares. The company expects 6 River Systems to generate annual billings of around 30 million dollars in 2020, with associated revenue recognised over the multi-year lifetime of each contract.