January 19, 2022
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As recently reported, the Toronto-based e-commerce and marketing company Maropost, acquired Australia’s Retail Express, a point-of-sale software provider, for $50M CAD. Maropost purchased Retail Express using an undisclosed combination of cash and options, which was financed by its own funds and debt.
Maropost’s acquisition of Retail Express, the second Australian company it has purchased in less than 12 months, comes as the company seeks to expand its global presence and enhance its product offerings to customers. Andrew Paquette, Maropost’s Chairman and Chief Executive Officer, stated that the Retail Express acquisition will provide its existing customers with “much more significant solutions for their retail operations” and is a “really great partnership from a leadership perspective”. Paquette plans to connect Retail Express’ software with the Maropost platform, while keeping the Retail Express brand remain intact “for the time being”. The Retail Express team, which comprises of more than 60 employees, will also be joining Maropost in Toronto as part of the deal.
Maropost was founded in 2011 by Paquette and offers an e-commerce and marketing platform that helps direct-to-consumer companies with audience engagement, customer acquisition and revenue growth. The start-up caters to a variety of sectors including retail, media, travel and hospitality and its customer list includes companies like Mercedes-Benz, HP and the New York Post.
By: Matthew Erdman
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