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From Israel, which provides services for local adaptation of online trading platforms, buys American Flow for about half a billion dollars and expands its activities to the small business market. $ 425 million of the amount will be paid upon completion of the transaction and an additional $ 75 million based on the financial results of 2021. An additional $ 45 million will be transferred in shares.
The acquisition was established in 2015 and is also engaged in online commerce and is expected to post revenues of approximately $ 20 million this year. The company has a unique API-based technology that allows for quick customization of trading sites without the need for special software and caters mainly to the young brand market and small chains. So far the company has worked mainly with huge chains and well-known brands like Hugo Boss and Marks & Spencer.
“Our platform supports cross-border commerce in a smart, simple and place-based way,” said Nir Debbie, President and Co-Founder of Global Island. “The acquisition fits our strategy, to serve both small and emerging brands in the most sophisticated and easy way, using Flow’s advanced technology, along with Global E’s vast experience and the unique model for our data.” Debbie added that the acquisition will position Global Island as the market-leading platform and will be available to merchants of any size.
Global Island, founded in 2013 by Amir Schlecht, Shahar Tamari and Nir Debbie, currently working with 500 brands around the world, was issued on Wall Street about six months ago and has since doubled in value and is currently traded at $ 7.6 billion.
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