Channel Advisor, a provider of channel solutions for firms utilizing e-commerce, is acquiring Marketworks, a provider of marketplace management software and services.
Financial terms were not disclosed.
ChannelAdvisor closed on $30 million in venture capital in May and has since then added several new partners as well as products.
The combined company will have more than 5,500 customers and help those customers sell some $2.5 billion in merchandise.
ChannelAdvisor will have offices in RTP, where it is based, as well as Seattle, Berlin, London, Melbourne, Australia, and Atlanta.
ChannelAdvisor works closely with eBay, and its combination with Marketworks will give ChannelAdvisor a 10 percent share of merchandise value sold through the online marketplace.
“Acquiring Marketworks solidifies our leadership position and reinforces our commitment to the marketplace segment,” said Scot Wingo, ChannelAdvisor’s chief executive officer.
“We will continue to evaluate other opportunities in this and other e-commerce channel segments as they arise,” he added.
ChannelAdvisor will continue to support Marketworks customers, the company said in a statement.
“Marketworks is excited to join forces with ChannelAdvisor,” said Doug Hadaway, Marketworks’ CEO. “This partnership will lead to great things for both company’s customers and partners.”
