Square has entered into a definitive agreement to acquire Weebly for $365 million. Weebly is a San Francisco–based technology company that lets customers build websites and online stores.
Weebly has millions of customers and more than 625,000 paid subscribers, according to the companies. Nearly 40% of Weebly’s paid subscribers are outside the U.S.
The transaction is subject to customary closing conditions including regulatory approvals, and is expected to close during the second quarter of 2018. Until close the two companies will continue to operate independently.
Square was advised by Wilson Sonsini Goodrich & Rosati and Weebly was advised by Cooley and Qatalyst Partners.
[Image courtesy: Weebly]