Shopify buys New York-based wholesale commerce firm, second acquisition of 2019

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Editor's Note

Updated to include a statement from Shopify on the transaction.

Shopify has quietly acquired a New York-based e-commerce firm, the Ottawa tech giant’s second acquisition of 2019.

The local company confirmed to OBJ on Friday reports that it had bought Handshake, which develops a B2B platform for wholesale commerce. The company claims to help suppliers develop closer relationships with their customers.

SurePath Capital Partners, which advised Handshake on the sale, said in a statement that the acquisition “brings significant product capability and domain expertise to help (Shopify) meet the needs of larger merchants.”

Details of the acquisition were not disclosed, though TechCrunch cited sources pegging the deal value at less than $100 million.

Also unannounced was Shopify’s acquisition in January of Toronto-based Helpful, which has developed a video communication platform for enterprise customers. Co-founder Daniel Debow wrote a message on Medium then to announce he and his team were shutting down their Helpful services and joining Shopify.