Square’s $365 Million Acquisition of Weebly


Square was advised by Wilson Sonsini Goodrich & Rosati and Weebly was advised by Cooley LLP and Qatalyst Partners.

Square, Inc. (NYSE: SQ) has entered into a definitive agreement to acquire Weebly. Square will pay a mix of cash and stock of approximately $365 million, which includes Square restricted stock units for Weebly’s founders and employees that will vest over four years subsequent to closing. This consideration includes Weebly’s estimated net cash. Weebly is a San Francisco–based technology company that provides customers with tools to easily build a professional website or online store.

Square and Weebly will give sellers one cohesive solution to start or grow an omnichannel business. Today, it is important that sellers can reach buyers as they move between channels (in person, online, in apps) during discovery, purchase, and even returns and exchanges. An integrated suite of services will make critical business tasks like engaging with customers, managing orders, growing sales, and making informed business decisions easier than ever for sellers.

Weebly will expand Square’s customer base globally and add a new recurring revenue stream. Weebly has millions of customers and more than 625,000 paid subscribers. Square will provide Weebly customers with access to the company’s ecosystem of managed payments, hardware, and software, which complement Weebly’s services, which include free website hosting, premium (paid) website design and hosting, online store, and marketing tools. Nearly 40% of Weebly’s paid subscribers are outside the U.S., which will help accelerate Square’s global expansion.

Square will continue to provide an open platform to offer sellers the flexibility to select and integrate the third-party solutions that are best for their business. Square offers more than 100 partner integrations across a range of third-party apps, including points of sale, accounting software, and other back-office systems.

The completion of this transaction is subject to customary closing conditions including regulatory approvals. The parties expect to close the transaction during the second quarter of 2018, and until close the two companies will continue to operate independently.

Wilson Sonsini Goodrich & Rosati advised Square with a team including Rob Ishii (Picture), Derek Liu, Emma Sarkisyan, Dennise Martinez (M&A), Lisa Stimmell (Corporate and Securities), Brandon Gantus, Mark Cornillez-Ty (Employee Benefits and Compensation), Myra Sutanto Shen, Joe Mandry (Tax), John McGaraghan, Khurram Awan (Technology Transactions), Matthew Staples, Kelly Singleton (Privacy and Data Protection) Jamillia Ferris, Roisin Comerford (Antitrust), Marina Tsatalis, Matthew Damm (Employment Litigation), Susan Reinstra, Lee Cumberland (Real Estate), Josephine Aiello LeBeau, Anne Seymour (Export Controls) and Martin Sul (Environmental).

Involved fees earner: Robert Ishii – Wilson Sonsini Goodrich & Rosati; Derek Liu – Wilson Sonsini Goodrich & Rosati; Emma Sarkisyan – Wilson Sonsini Goodrich & Rosati; Dennise Martinez – Wilson Sonsini Goodrich & Rosati; Lisa Stimmell – Wilson Sonsini Goodrich & Rosati; Brandon Gantus – Wilson Sonsini Goodrich & Rosati; Mark Cornillez-Ty – Wilson Sonsini Goodrich & Rosati; Marina Tsatalis – Wilson Sonsini Goodrich & Rosati; Matthew Damm – Wilson Sonsini Goodrich & Rosati; Myra Sutanto Shen – Wilson Sonsini Goodrich & Rosati; Joe Mandry III – Wilson Sonsini Goodrich & Rosati; John McGaraghan – Wilson Sonsini Goodrich & Rosati; Khurram Awan – Wilson Sonsini Goodrich & Rosati; Matthew Staples – Wilson Sonsini Goodrich & Rosati; Kelly Singleton – Wilson Sonsini Goodrich & Rosati; Jamillia Ferris – Wilson Sonsini Goodrich & Rosati; Roisin Comerford – Wilson Sonsini Goodrich & Rosati; Susan Reinstra – Wilson Sonsini Goodrich & Rosati; Lee Cumberland – Wilson Sonsini Goodrich & Rosati; Josephine Aiello LeBeau – Wilson Sonsini Goodrich & Rosati; Anne Seymour – Wilson Sonsini Goodrich & Rosati; Martin Sul – Wilson Sonsini Goodrich & Rosati;

Law Firms: Wilson Sonsini Goodrich & Rosati;

Clients: Square Inc.;

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Author: Ambrogio Visconti