The deal is worth up to approximately $500 million (in equal portions of cash and Global-e shares). It comprises a base consideration of approximately $425 million and up to approximately $75 million in potential additional consideration based on certain financial results in 2021, plus approximately $45 million in Global-e shares for certain assumed, performance-based vesting warrants for Flow shares.
Like Global-e, New Jersey-based Flow Commerce provides solutions for cross-border e-commerce transactions, but its solutions are designed for small and mid-size businesses and for emerging brands, whereas Global-e’s target market is aimed at large businesses and brands. The acquisition will expand Global-e’s target market.
With the completion of the acquisition, Flow Commerce CEO Rob Keve will head Global-e’s newly formed SMB division. Flow Commerce CTO Mike Bryzek will serve as Global-e’s Chief Product Officer, replacing Ira Vinitsky, who has asked to step down after leading Global-e’s product organization for more than 8 years. Adi Waiss will switch to global EVP of Projects from her previous role of VP Global Projects and Solutions.
Global-e co-founder and president Nir Debbi said, “This acquisition will allow us to serve small and emerging brands in the most sophisticated and light-weight way possible, by utilizing Flow’s cutting-edge technology coupled with Global-e’s best-in-class expertise and unique data models, positioning our platform as a leading cross-border solution for any size of merchant.”
For more information please read more at Globes