WeCommerce has reached a deal to acquire archetypal themes from the mobile-first Shopify tool for an initial amount of $ 20 million and contingent consideration of up to $ 12 million, according to a Friday August 6 press release. .
Archetype has won accolades as a designer and developer of themes used by over 60,000 Shopify merchants. Its Impulse theme is the most popular in the Shopify theme store, depending on the version.
âArchetype’s stunning portfolio of themes are loved by merchants large and small alike, and help them attract and convert customers through carefully designed, high-performing, premium storefronts,â said Chris Sparling, CEO of WeCommerce .
See also: Commerce is fast becoming the new battleground for social media giants
The merger will not change Archetype’s status as an independent brand. But combined with Pixel Union and Out of the Sandbox, WeCommerce-owned themes will occupy a leading position in terms of paid themes in the Shopify store.
WeCommerce’s purchase of Archetype is valued at around five times EBITDA, according to Archetype’s unaudited financial statements ending in March.
âArchetype has built a leading brand in the Shopify partner ecosystem,â said Alex Persson, interim president and chief financial officer of WeCommerce.
Read more: Ecommerce must evolve beyond the decades-old transactional mindset
âIn the coming days, all Archetype themes will be updated to Shopify’s 2.0 online store architecture, which we believe will unlock more flexibility and value for merchants,â Persson added. .
Archetype Co-Founder and CTO Carson Shold said the company was “thrilled” to join WeCommerce, which has a proven track record of helping businesses grow and grow in the commerce space. electronic.
WeCommerce’s experience and shared long-term vision of the partner ecosystem made it the obvious choice, âsaid Shold.
WeCommerce offers a comprehensive offering of e-commerce software tools that aim to enable hekpo businesses to launch and grow their digital stores. The company has worked with brands such as Pixel Union, Out of the Sandbox, Yopify, SuppleApps, Rehash, Foursixty, and Stamped.