Archetype is a designer and developer of themes used by over 60,000 Shopify merchants. Archetype will continue to operate as an independent brand post-acquisition. Combined with Pixel Union and Out of the Sandbox, WeCommerce-owned themes will comprise five of the top-seven most popular paid themes in the Shopify Theme Store.
The upfront consideration represents a multiple of approximately five times EBITDA, based on Archetype’s unaudited financial statements for the trailing twelve months period ended 31 March 2021. WeCommerce expects to fund the upfront consideration through a combination of cash on hand and borrowings under its senior secured credit facility.
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