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.”
“Our acquisition of WebOrder will further strengthen Netopia’s strategy of
developing both e-commerce Web platforms and broadband DSL solutions for the
converging distribution channels that serve small and medium size
businesses,” said Alan Lefkof, Netopia’s president and chief executive officer.
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.