Square to Acquire Weebly for $365 Million
On April 26, 2018, Square, which creates tools that help sellers start, run, and grow their businesses, announced that it has entered into a definitive agreement to acquire Weebly, a San Francisco–based technology company that provides customers with tools to easily build a professional website or online store. Square will pay a mix of cash and stock of approximately $365 million. Wilson Sonsini Goodrich & Rosati is representing Square in the transaction.
According to a press release, Weebly has millions of customers and more than 625,000 paid subscribers. Square will provide Weebly customers with access to the company’s ecosystem of managed payments, hardware, and software, which complement Weebly’s services. Square will continue to provide an open platform to offer sellers the flexibility to select and integrate the third-party solutions that are best for their business.
The completion of the transaction is subject to customary closing conditions including regulatory approvals. The transaction is expected to close during the second quarter of 2018, and until close, the two companies will continue to operate independently.
The WSGR team that advised Square in the transaction includes:
Corporate and Securities:
Lisa Stimmell, Partner
Martin Sul, Counsel
For more information, please see Square’s press release.