Bambuser, the leading video commerce platform, is entering a partnership with Klarna, the AI powered global payments network and shopping assistant. As a part of this, Bambuser is acquiring Klarna’s virtual shopping solution, originally established by HERO.
„The HERO solution brings the concept of personalized customer experiences to e-commerce through chat and video calls. The transaction marks a milestone in the e-commerce industry, bringing together two pioneers in enhancing online shopping experiences.” – according to the press release.
‘’The acquisition of the HERO solution aligns perfectly with our vision to create the ultimate, high-converting shopping experience, combining the convenience of online shopping with the personal touch of in-store interactions,” said Maryam Ghahremani – CEO of Bambuser.
The transaction is planned to close in May 2024 by Bambuser acquiring a newly established UK company (“NewCo”) holding the assets of the Hero solution. The final consideration price will be paid in cash and is based on the value of the customer agreements transferred to NewCo. The maximum consideration price including transaction related costs are estimated to approximately SEK 15 million.
The transaction is estimated to add between SEK 10-14 million in ARR short term and, over time, substantially contribute to Bambuser’s ARR growth as well as improve Adjusted EBITDA and Free Cash Flow (“FCF”). The Hero solution is however expected to have a minor negative impact on Bambuser’s Adjusted EBITDA and FCF during the initial 12 months post closing due to migration related costs.
When it acquired the firm three years ago, Klarna said it would introduce Hero to its 250,000 retail partners, with the aim of bringing the best of in-store shopping to the online experience for consumers.
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Bambuser is the world’s leading video commerce company with the largest customer base in its industry. More than 290 brands from 50+ countries leverage Bambuser’s best-in-class solutions.
Bambuser is truly global with headquarters in Stockholm and offices in New York, London, Paris, Tokyo, Turku, and Los Angeles. The company’s rapidly growing team speaks more than 40 languages and 50% of its senior management is female.
Founded in 2007 as a livestreaming pioneer, trusted by the world’s leading news agencies, Bambuser pivoted to Live Shopping in 2019, leveraging its legacy as the industry leader in video-first technology.
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