CommerceHub, an industry-leading commerce network connecting supply, demand and delivery for the world’s leading retailers and brands, and ChannelAdvisor Corporation (NYSE: ECOM), a leading provider of cloud-based e-commerce solutions that enable brands and retailers to increase global sales, have announced a definitive agreement for CommerceHub to acquire the outstanding shares of ChannelAdvisor in a transaction led by global software investor and current shareholder of CommerceHub, Insight Partners. Under the terms of the agreement, ChannelAdvisor stockholders will receive US$23.10 per share in cash, representing a premium of approximately 57% over the company’s closing stock price on September 2, 2022, the last full trading day prior to this announcement. The proposed transaction is not subject to a financing condition and is expected to close in 2022.

Latham & Watkins LLP is advising the financing sources for the transaction, which included Sixth Street, Golub Capital LLC, and other lenders, with a deal team led by New York partner Daniel Seale, Bay Area partner Haim Zaltzman, Houston partner Pamela Kellet, and New York finance associates Jonathan Goldberg and Diana Duan. Advice has also been provided on finance matters by New York partners Lawrence Safran and Conray Tseng, with New York counsel Brian Rock; on tax matters by Bay Area partner Katharine Moir, with Chicago associate Laura Waller and New York associate Charnae Supplee; on compliance matters by Washington, D.C. partner Joseph Bargnesi and New York partner Matthew Salerno, Washington, D.C. counsel Andrew Galdes and Los Angeles-Houston counsel Joshua Marnitz, and Washington, D.C. associate Ragad Alfaraidy; and on intellectual property and data privacy matters by Bay Area partner Michelle Gross, with Bay Area associate Irene Jang and Boston associate Kiara Vaughn.