Why ChannelAdvisor Stock Jumped This Morning
CommerceHub, a cloud-based e-commerce marketing solutions provider, is acquiring ChannelAdvisor (NYSE: ECOM) for $23.10 per share. The offer represents a 57% premium to ChannelAdvisor's closing price on Friday.
As of 10:40 a.m. ET on Tuesday, shares of ChannelAdvisor were up 55% to $22.79. The stock had been down substantially year to date before the announcement, but the proposed acquisition gives shareholders a nice exit point.
This deal, which is expected to close this year, appears to be a perfect fit, combining two leading e-commerce solutions providers. ChannelAdvisor has delivered steady double-digit percentage growth in recent years as brands and retailers have adopted its software-as-a-service platform to better manage their merchandise sales across major online retail channels such as Amazon, Shopify, and Walmart.
Source Fool.com
