Square, a financial services provider announced that it is set to acquire website-building company Weebly for $365 million.
According to a report by Techspot.com, the acquisition will allow Weebly’s paid subscribers and customers that are more than 625,000 in number to have access to Square’s ecosystem of managed payments, hardware, and software and will help the mobile-payments company to expand internationally given that 40% of Weebly’s subscribers live outside the US.
Square was co-founded in 2009 by Jack Dorsey, also the co-founder and CEO of Twitter. According to Dorsey, Square and Weebly will be able to give further and faster services to customers together.
Weebly meanwhile started in 2006 after being co-founded by David Rusenko, Chris Fanini and Dan Veltri. Rusenko.
According to Square, the purchase will be finalized in the second quarter of 2018.
(Photo source: newatlas.com/ techspot.com)