CDON AB (publ) has acquired 56 % of Xales Tech Lab Oy, a Finnish SaaS startup developing an integration platform which connects online stores to relevant marketplaces. This acquisition will further strengthen the scaling of Xales platform and the development of further value-adding features for the merchants.
“We are thrilled to be able to continue our journey as a part of CDON. Due to the fast growth of marketplaces, an omni-channel approach to e-commerce is something all brands and retailers must consider. Together with CDON we are well prepared to develop solutions to match needs of a modern merchant.”, says Anssi Peltokangas, CEO & Co-Founder of Xales.
For CDON this acquisition brings opportunities to strengthen the offering towards merchants, both in relation to the onboarding process as well as sales data and analytics. In addition, Xales will also help drive new Nordic and international merchants to CDON’s platform.
“We are excited to welcome Xales to CDON. This acquisition will further strengthen our offerings towards merchants as the leading Nordic marketplace and make the on-boarding process faster and smoother for new merchants.”, says Peter Kjellberg, CEO of CDON.
As a part of the transaction CDON invested 300 000 euros in cash in a directed issue of new shares in Xales. This investment will be used to scale the business and to develop new features for brands and retailers wanting to make the most out of their e-commerce operation.
“Deepening the co-operation with CDON gives us an opportunity to create new features that can ultimately enable better business performance for the merchants.”, Marko Möttönen, Chief Product & Technology Officer and Co-Founder of Xales
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Xales is a SaaS company based in Finland, which connects online stores to relevant marketplaces and let the merchants tap into the demand in the market. Xales offers ready-made integrations for e-commerce platforms to remove the friction from selling on multiple platforms, which enables a smooth and hassle-free way of working. Xales also offers an early-phase mobile BI solution which enables merchants to optimize their e-commerce businesses by understanding sales data from multiple sales platforms.
CDON was founded in 1999 and is now the biggest marketplace in the Nordic region. During 2020 we had over 120 million visits and 2.3 million customers. Customers can choose to buy and compare prices for millions of products at CDON, by far the widest range of all Nordic e-retailers. Over 1,500 merchants use CDON’s platform and technology to increase their sales. This gives CDON a wide range of products within, movie, music, computers, games, office supplies, books, toys, consumer electronics, household appliances, sport, outdoor, beauty care, fashion, shoes, computers, and computer products. CDON is listed on Nasdaq First North Growth Market with the abbreviation CDON.