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CommerceHub To Be Acquired By GTCR And Sycamore Partners For $1.1 Bln

CommerceHub, Inc. (CHUBA, CHUBK), a distributed commerce network for retailers and brands, and private equity firms GTCR as well as Sycamore Partners said that affiliates of GTCR and Sycamore will acquire all outstanding shares of CommerceHub for a total value of about $1.1 billion.

Under the terms of the deal, funds affiliated with GTCR and Sycamore will acquire all outstanding shares of CommerceHub's Series A, B, and C common stock for about $1.1 billion.

Holders of CommerceHub's Series A, B and C common stock will receive $22.75 in cash per share, representing a 24.5 percent premium to the Series A closing price, and 30.2 percent premium to the Series C closing price, both as of March 5, 2018.

CommerceHub said its board of directors unanimously approved the deal and recommended that stockholders vote their shares in favor of the transaction.

Following closing of the deal, CommerceHub will become a privately held company and remain headquartered in Albany, NY, with offices in Seattle, WA and Hertford, England. The transaction is expected to close in the third quarter of 2018.

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