Newfold Digital, a leading web and commerce technology provider backed by Clearlake Capital Group, L.P. and Siris Capital Group, LLC, has acquired YITH, one of the largest independent sellers and developers of WooCommerce plugins and themes for WordPress, a free and open-source content management system. Terms of the transaction were not disclosed.
With nearly 2.3 million active installs and more than 100 plugins that expertly solve most e-commerce needs, YITH enables customers to build and grow online WooCommerce stores. WooCommerce is the world’s #1 open-source e-commerce software, powering 22% of the top 1 million e-commerce sites in the world.
“For businesses everywhere, e-commerce has become a necessity to compete in today’s marketplace. Our nearly 7 million customers not only need online storefronts, but advanced features to support their specific niches, from advanced product catalog functionality to gift card solutions,” said Sharon Rowlands, CEO of Newfold Digital. “YITH’s impressive library of reliable WooCommerce plugins will help support our customers with their 2022 e-commerce resolutions.”
This transaction will allow Newfold Digital to further expand its business internationally and increase its e-commerce product range, having acquired one of the largest independent WooCommerce plugin vendors and developers.
Cuatrecasas advised Newfold Digital with a Madrid office Corporate/M&A team formed by partner Francisco J. Martínez Maroto and associate Álvaro Lucena Rebollo.