Open SaaS e-commerce platform BigCommerce (NASDAQ: BIGC) recently revealed that it has acquired business-to-business (B2B) enterprise software solutions provider Quote Ninja, Inc. also known as B2B Ninja. The terms of the deal have not been disclosed.
Following the news, shares of the company declined over 4% to close at $31.50 in Thursday’s extended trading session.
Strategic Impact
The acquisition of a leading platform like B2B Ninja is likely to bolster BigCommerce’s capability to deliver powerful e-commerce functionality to B2B merchants.
Any BigCommerce merchant on any plan will be able to make use of B2B Ninja to provide their customers a hassle-free experience in managing quotes online.
Management Commentary
The CEO of BigCommerce, Brent Bellm, said, “B2B Ninja is an excellent addition to our already strong B2B capabilities. Complementing our recent launch of B2B Edition, this is the next big step in providing a platform that is easier to use and faster than legacy B2B solutions and more flexible and powerful than other SaaS platforms.”
Stock Rating
Consensus among analysts is a Strong Buy based on 7 Buys and 2 Holds. The average BigCommerce price target of $56.22 implies 77.2% upside potential from current levels. Shares have declined 59.4% over the past year.
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