- The stock price of PFSweb, Inc. (NASDAQ: PFSW) increased by 9.07%. This is why it happened.
The stock price of PFSweb, Inc. (NASDAQ: PFSW) increased by 9.07%, going from a previous close of $10.80 to $11.78. Investors appear to be responding positively to Dentsu Group announcing that it has entered an agreement to buy LiveArea, a global customer experience and commerce agency, subject to customary closing conditions. LiveArea is a division of PFSweb.
LiveArea is going to join Merkle, a leading technology-enabled, data-driven customer experience management (CXM) company within Dentsu Group’s international business, Dentsu International. And with this acquisition, LiveArea bolsters Merkle’s global experience and commerce capabilities and furthers Merkle’s position as a go to experience partner for businesses around the world. This acquisition demonstrates the group’s commitment to enable clients to deliver best-in-class differentiated and connected commerce experiences across the entire customer journey. The acquisition aligns with Dentsu Group’s stated ambition of reaching 50% of revenue generated by Customer Transformation & Technology (CT&T), encompassing the fast growth areas of customer experience and commerce.
LiveArea is based in the United States with a presence in EMEA and significant global offshore delivery capabilities in India and Bulgaria. And LiveArea’s expertise lies in connecting brands and people through creative commerce experiences that transform the customer journey. The agency’s services — which span commerce, experience design, technology, and strategy — enable brands to transform their commerce offerings and relationships with customers. LiveArea also offers ongoing managed services to its client base with over 50% of revenues in 2021 expected to be recurring. Plus LiveArea‘s impressive roster of long-standing partnerships across many leading technology platforms include Salesforce, Adobe, and SAP. The acquisition of LiveArea strengthens Dentsu Group’s deep relationships with these partners.
LiveArea’s 590 employees will all make the transition to Merkle along with Jim Butler, President of LiveArea. And LiveArea’s leadership team will report directly to Pete Stein. The business is going to operate under the name LiveArea, a Merkle company. LiveArea is going to transition into Merkle to develop joint go-to-market plans and accelerate growth across both businesses.
“LiveArea represents a unique opportunity for Merkle to significantly expand our commerce capabilities – broadening our commerce footprint in the US market while also adding commerce expertise in EMEA. The addition of LiveArea to the Merkle family will further enhance our ability to competitively deliver CXM services and integrated solutions, efficiently and at scale.”
— Michael Komasinski, president, Merkle Americas
“In a post-pandemic world that has seen significant acceleration in commerce, marketers need guidance through this disruption. The LiveArea acquisition, a scaled ecommerce business with an incredible leadership team and vision, plays a critical role as we further enhance our experience and commerce offering.”
— Pete Stein, global lead for Experience and Commerce at Merkle
“I am grateful for our team’s hard work and the growing pipeline of bookings and new service offerings we have built. We believe our integration into Merkle will provide our team with greater support and accelerated development opportunities, and we look forward to working with them to make LiveArea an even stronger company to create agile, business driving solutions with our clients.”
— Jim Butler, president of LiveArea
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.