Shopify, the Ottawa-based ecommerce platform that is one of the biggest success stories in the Canadian technology sector these days, announced that it is acquiring San Francisco-based Kit, which offers an online marketing assistant for ecommerce portals. Terms of the deal were not disclosed.
Kit was founded in 2013 and had raised an undisclosed amount of seed capital from Technicolor Ventures and Visionnaire Ventures in 2014. Its tools allow online retailers to utilize Facebook to market their products and communicate with customers.
Shopify has been around since 2004 and is regarded as one of the leading Canadian tech companies. Its platform offers a simple way to set up and maintain an online store with a full suite of ecommerce tools that enable things like payment processing and inventory management. The company went public last year on the NYSE and TSX, raising over $130 million. This is the company’s third acquisition but its first since becoming publicly-listed.
To read more about the transaction, click here.