SureFire Commerce Buys U.S. E-Retailing Pioneer
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[Montreal, CANADA] - SureFire Commerce Inc. has closed its acquisition of Stumpworld Systems of Boston, owner of the store-building software platform Online Merchant, and the online shopping community BuyItOnline.com, two e-commerce brands in the U.S.
"As a Canadian-based company, this acquisition represents an important and strategic transaction that allows us to build out our US presence and open the doors to online commerce for small- and medium-sized merchants in Canada," said Rory Olson, president and chief executive officer of SureFire Commerce.
Olson reported, "We were successful in identifying a key U.S. asset with important proprietary technologies and brand recognition. We also negotiated a strong agreement on behalf of our shareholders, without having to expend any of our cash reserves."
SureFire Commerce recently developed BuyItOnline.ca, modeled after the U.S. shopping portal, and signed an agreement with AOL Canada to build and manage AOLSHOPS, the AOL Shopping Channel at www.aol.ca, to be launched this fall.
SureFire Commerce solutions include merchant enabling, transaction processing, hosting, as well as file and document management services. It is headquartered in Montreal, with offices in Ottawa and Boston.