TOTVS and VTEX: joint venture that involves the purchase of Ciashop can benefit thousands of online retailers
TOTVS and VTEX have just signed an agreement to create a joint venture.
This alliance between two of the largest Brazilian companies focused on online and offline retail technologies will generate benefits especially for users of the e-commerce systems of both companies.
- Visit and also read our article “Ciashop VTEX“. Get the support of the e-Plus agency to migrate (from one platform to another) the layout of your virtual store!
TERMS OF PARTNERSHIP BETWEEN TOTVS AND VTEX
The partnership between TOTVS and VTEX is based on the terms of the documents listed below:
• CVM Instruction number 358/2002
• Article 26 of the New Market Regulations
In this scenario, the two companies intend to create a joint venture, which will have the following objectives:
1 – Focus on the development and distribution of software solutions for e-commerce and companies in the Brazilian market;
2 – Sale (transfer) to VTEX of the entire shareholding held by TOTVS in the share capital of Ciashop SA (Ciashop platform).
In other words, under this agreement, VTEX will acquire the majority stake in Ciashop.
VTEX PURCHASES CIASHOP PLATFORM
As can be seen, within the aforementioned agreement, VTEX acquires 70,47% of Ciashop's share capital.
This percentage, in turn, is the share that TOTVS held in Ciashop, when it purchased it in 2013.
Indeed, in the context of this negotiation, the total amount (100%) attributed to Ciashop is R$30.048.966,08 (thirty million, forty-eight thousand, nine hundred and sixty-six reais and eight cents).
Therefore, VTEX will pay TOTVS the amount of twenty-one million, one hundred and seventy-five thousand reais (21.175.000,00), which represents 70,47% of the value of the platform.
JOINT VENTURE VTEX / TOTVS: ADVANTAGES FOR USERS
With the creation of the VTEX / TOTVS joint venture, users of the e-commerce platforms and retail technologies of both companies will be able to benefit in a variety of ways, such as:
• Integrated software solutions and e-commerce management
• Integrated solutions for online, offline and multichannel retail
• Improved sales performance of virtual stores and other sales channels
• Distribution of VTEX technologies in TOTVS' franchise systems
Finally, it is worth remembering that the conclusion of the agreement between TOTVS and VTEX depends on the analysis of certain conditions of this type of business and the approval of the Brazilian competition authorities.
TOTVS and VTEX: partnership will provide integrated software and e-commerce management solutions
WHO IS TOTVS?
TOTVS is a Brazilian software company founded in 1983.
With 12 employees and over 30 customers, it is undoubtedly one of the largest (if not the largest) software company in Latin America.
TOTVS is present in 40 countries, where it provides solutions such as ERP, BPM, GED, HR, CRM and e-commerce systems.
In 2018, TOTVS earned BRL 2,3 billion and became the only Brazilian brand, in the technology sector, among the 25 most valuable brands in the Interbrand ranking.
WHO IS VTEX?
Founded in 1999, VTEX is a Brazilian multinational cloud commerce owner of an e-commerce platform of the same name.
The VTEX e-commerce platform has over 2.500 users in just over 25 countries.
In 2013, the VTEX company bought Loja Integrada, which in April 2019 surpassed the 1 million storeowners mark.
These retailers have already sold more than 20 million products together and earned more than R$ 12 billion.
In 2017, VTEX was mentioned in Gartner's Magic Quadrant alongside Oracle, SalesForce and IBM.
WHO IS CIASHOP?
Ciashop is a Brazilian company that owns an e-commerce platform of the same name.
It was founded in 1998 and acquired by TOTVS in 2013.
Ciashop currently has more than 100 servers, 1 active customers and more than 94% approval.
In addition to the e-commerce platform, Ciashop has the Sales Hub, which is an integrator hub for Marketplaces, among other solutions.
If the agreement between TOTVS and VTEX actually takes place, Ciashop will be owned by VTEX.
e-Plus Agency , an agency focused on strategic performance for online retail, is certified to implement the VTEX and Ciashop platforms, with a portfolio of over 300 implemented clients and more than 10 years of experience.
