GigaCloud Technology Inc Announces Acquisition of Wondersign
16 11월 2023 - 9:30PM
GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the
“Company”), a pioneer of global end-to-end B2B ecommerce solutions
for large parcel merchandise, today announced that it has completed
the acquisition of a 100% equity interest of Apexis, Inc., a
Florida corporation dba Wondersign (“Wondersign”), for a total cash
consideration of $10.0 million, subject to customary purchase price
adjustments. Wondersign is a cloud-based interactive digital
signage and e-catalog management SaaS company headquartered in
Tampa, Florida with access to thousands of storefronts across the
United States through its customers. Wondersign develops and
maintains “Catalog Kiosk,” a leading digital catalog software that
allows retailers to display an endless aisle of products and better
connect with today’s omni-channel shoppers.
“We are thrilled to announce this acquisition of
Wondersign, which brings together our technology-driven GigaCloud
Marketplace with the expertise and extensive network of Wondersign,
further accelerating our reach to brick-and-mortar retail stores.
One of the key strategic advantages of this acquisition is the
ability for us to launch an exciting new solution, the GIGA IQ™
package, our new innovative solution package which is expected to
enhance the transaction experience for both users on our GigaCloud
Marketplace and traditional retail customers from brick-and-mortar
stores,” said Larry Wu, Founder, Chairman, and Chief Executive
Officer of GigaCloud.
Starting with Wondersign’s Catalog Kiosk, the GIGA
IQ™ package is expected to be equipped with additional modules to
enable interactive personalized product recommendations. Other
valued-added functions, such as seamless products search and
transaction on the kiosk, would allow customers to effortlessly
find and purchase products from GigaCloud Marketplace through the
integrated system. The Company’s goal is to make GigaCloud
Marketplace a customer-facing and seamless platform, providing a
user-friendly experience for both platform participants and retail
store customers.
“With access points to approximately 2,500
storefronts through its customers, Wondersign significantly
broadens our reach to the physical retail stores nationwide,” said
Iman Schrock, President of GigaCloud. “This strategic acquisition
opens new avenues for our marketplace, providing enhanced access to
our extensive online catalog. We believe the combination would
empower retailers to efficiently manage their supply chains,
ultimately boosting transactional effectiveness and contributing to
the overall enhancement of the ecosystem. The integration of
Wondersign’s catalog management tools positions us to capitalize on
substantial opportunities within the brick-and-mortar retail
landscape.”
About GigaCloud Technology Inc
GigaCloud Technology Inc is a pioneer of global
end-to-end B2B ecommerce solutions for large parcel merchandise.
The Company’s B2B ecommerce platform, which it refers to as the
“GigaCloud Marketplace,” integrates everything from discovery,
payments and logistics tools into one easy-to-use platform. The
Company’s global marketplace seamlessly connects manufacturers,
primarily in Asia, with resellers, primarily in the U.S., Asia and
Europe, to execute cross-border transactions with confidence, speed
and efficiency. The Company offers a truly comprehensive solution
that transports products from the manufacturer’s warehouse to the
end customer’s doorstep, all at one fixed price. The Company first
launched its marketplace in January 2019 by focusing on the global
furniture market and has since expanded into additional categories
such as home appliances and fitness equipment. For more
information, please visit the Company’s website:
https://investors.gigacloudtech.com/.
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking statements” pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. Forward-looking statements reflect our current view
about future events. These forward-looking statements involve known
and unknown risks and uncertainties and are based on the Company’s
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
identify these forward-looking statements by words or phrases such
as “may,” “will,” “could,” “expect,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “is/are likely to,”
“propose,” “potential,” “continue” or similar expressions. The
Company undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company’s annual report and other filings
with the SEC.
For investor and media inquiries, please
contact:
GigaCloud Technology Inc
Greta Tang
Email: greta.tang@gigacloudtech.com
ICR
Email: GigacloudIR@icrinc.com
GigaCloud Technology (NASDAQ:GCT)
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