It was announced this morning that Relationshop-owned Store.ai and Mercatus Technologies have finalized a merger.
Here's how the announcement was framed:
"The newly merged company will be called Mercatus, a testament to the equity the eCommerce brand has achieved in the grocery sector, and will operate as a wholly owned subsidiary of Relationshop Inc.
"The strategic merger combines Mercatus’ enterprise eCommerce platform with Relationshop’s expertise in unifying first-party data and powering personalized digital engagement. This transaction comes on the heels of Relationshop acquiring Stor.ai, an eCommerce solution for independent grocers, in Jan. 2023. The combined capabilities of all three companies will create a connected commerce ecosystem with robust shopper engagement, personalization and loyalty solutions scaled for retailers of all sizes in North America, Europe and the Middle East."
Galen Walters, founder and CEO of Relationshop, will serve as the new CEO of Mercatus. Sylvain Perrier, who has been president/CEO of Mercatus, will serve as president of North America and global COO of the merged entity.
Scott Moses of Solomon Partners acted as financial advisor Mercatus, while Piper Sandler was financial advisor to Relationshop. Terms of the deal were not disclosed.