Netopia Acquires E-Commerce Services Provider WebOrder
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Netopia Inc., a provider of DSL Internet equipment and e-commerce platforms to small and medium size businesses, will acquire WebOrder, a developer of scaleable and customizable e-commerce solutions, for $21 million to $23 million in stock.
Value of the deal is based on the Feb. 22 closing price for Netopia's common stock of $77.91 per share. The final purchase price is dependent both on share conversion elections and on potential earnings-based payments, Netopia said.
Netopia and WebOrder have collaborated over the past year to integrate WebOrder's Smart Commerce System (SCS) into Netopia's E-Store platform.
Netopia said the acquisition strengthens its "as the only technology provider offering both DSL Internet equipment and e-commerce Web platforms to the carriers, ISPs, ASPs (Application Service Providers), franchisers and Internet portals that serve small and medium size businesses."
WebOrder's CEO, Mark Coopersmith, will become Netopia's senior vice president of corporate marketing, and Kate Peterson, WebOrder's founder and president, will become Netopia's vice president of E-Store marketing.