Virtualstock, Europe’s largest dropshipping platform, has been acquired by a US rival.
Private equity-backed Logicbroker has completed a deal for Reading-headquartered Virtualstock, which was established in 2004 and processes more than eight million orders annually with a GMV (gross merchandise volume) of more than £2 billion.
The terms of the deal were undisclosed.
Virtualstock’s dropship and curated marketplace platform powers online commerce for retailers including Aldi, Argos, B&Q, Currys and John Lewis.
Its Supplier Hub also connects suppliers directly with buyers at major retailers.
The combined company will form one of the largest international dropship supplier networks with more than 15,000 retail and brand partners worldwide and a GMV of over $13 billion.
“Logicbroker is a clear leader in multi-party commerce technology, and its pioneering role in helping retailers adapt to changing consumer and business shopping behaviors will be vital for us as we enter a new phase in Virtualstock’s journey,” said Ed Bradley (pictured), founder and CEO of VirtualStock.
“I’m excited to work with Omar and his team as we continue to support retailers and suppliers across our customer base, and I look forward to us being able to further expand our reach as part of the Logicbroker organisation.”
Omar Qari, CEO of Logicbroker, added: “We first began talking with Virtualstock when we partnered on a multinational retailer deal, and as the conversations continued, it became clear that we could do so much more as a united entity.
“Virtualstock doesn’t just bring deep technical expertise and an impressive customer portfolio; it also greatly enhances our ability to serve the largest enterprise retailers and brands in the world.”
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