Software company BigCommerce explores sale, sources say

Commerce.com

07/05/2024 20:52

By Milana Vinn
       May 7 (Reuters) - BigCommerce  BIGC.O , the e-commerce
software maker that used to be backed by SoftBank Group
 9984.T , is exploring a sale after attracting takeover
interest, people familiar with the matter said on Tuesday.
    BigCommerce has become an acquisition target after losing
90% of its market value in the four years since its initial
public offering. It has struggled to compete against larger
rival Shopify  SHOP.TO .
    The Austin, Texas-based company has asked investment bank
Qatalyst Partners to solicit interest from potential buyers that
include private equity firms, the sources said.
    The discussions are at an early stage and no deal is
certain, the sources added, requesting anonymity because the
matter is confidential.
    Spokespeople for BigCommerce and Qatalyst did not respond to
requests for comment. 
    

 (Reporting by Milana Vinn in New York
Additional reporting by Siddharth Cavale in New York
Editing by Greg Roumeliotis)
 ((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
Messaging: Signal/Telegram/Whatsapp - +1-646-705-9409))