Leading provider of cloud-based ecommerce solutions, ChannelAdvisor has been acquired by commerce network and provider of software solutions that connects supply, demand and delivery, CommerceHub for $23.10 per share in cash.

The combined company enables more businesses to reach and convert shoppers, expand margins, and enhance the online shopping experience through drop ship, marketplace, digital advertising, and delivery management.

CommerceHub has over 18,000 customers transacting more than $50 billion in gross merchandise value (GMV) and over $500 million in digital marketing and retail media ad spend annually, with access to more than 400 marketplace and retail channels.

“By bringing these two businesses together, we can now empower our customers to reach more channels, expand selection, and increase sales by offering a unified set of solutions across marketplaces, drop ship, fulfillment, retail media, and more,” CommerceHub CEO, Bryan Dove said.

“I’m thrilled about bringing together an amazingly talented team and the opportunity to expand the breadth of what we can offer our customers across a broader network of trading partners and new channels.”

The combined company will be led by Bryan Dove. ChannelAdvisor CEO, David Spitz will work with Dove and the combined team through the end of the calendar year on the transition process.