• About
  • Privacy & Policy
  • Contact
Thursday, July 7, 2022
MYTECHMAG-A Leading Technology Magazine
  • Cyber Defense Top Banner
  • 2nd FIF Top Banner
  • Exhivits The Virtual Exhibition Top Banner
  • 12th NFP Top Banner
  • OGAD Top Banner
  • 11th NFP Top-banner
  • Home
  • Technology
    • Supply Chain
    • Enterprise Security
    • Cloud Technology
    • RegTech
    • HPC
    • Collaboration
    • IoT
    • Compliance
    • Artificial Intelligence
    • Field Service
    • CRM
    • Project Management
    • Fintech
    • Risk Management
    • Cyber Security
    • Enterprise Architecture
    • EAM
    • ECM
    • Block Chain
    • Data Analytics
    • Robotics
    • Disaster Recovery
    • Marketing
    • Workflow Management
  • Industry
    • Retail
    • Healthcare
    • Construction
    • Pharma
    • Education
    • Textile
    • Aerospace and Defense
    • Banking
    • Smart City
    • Oil and Gas
    • Telecom
    • Travel & Hospitality
    • Agri Tech
    • Media & Entertainment
    • Logistics
    • Manufacturing
    • Legal
    • Government
    • Real Estate
    • Automotive
    • Food and Beverage
    • Biotech
    • HR
    • Insurance
    • Energy and Utilities
    • Contact Center
    • Capital Market
    • Chemical
    • Sports
  • Solution Providers
    • Aerospace and Defense
    • Agri Tech
    • Artificial Intelligence
    • Automotive
    • Banking
    • Capital Market
    • Cloud Technology
    • Collaboration
    • Construction
    • Contact Center
    • CRM
    • Cyber Security
    • Data Analytics
    • Disaster Recovery
    • EAM
    • ECM
    • Energy and Utilities
    • Enterprise Architecture
    • Enterprise Security
    • Fintech
    • Government
    • Healthcare
    • HR
    • Insurance
    • IOT
    • Legal
    • Logistics
    • Manufacturing
    • Marketing
    • Oil and Gas
    • Pharma
    • Retail
    • Risk Management
    • Smart City
    • Supply Chain
    • Top CEOs
  • Magazines EditionsWhat's New
  • News & PR
    • News
    • Press Release
  • CXO Thoughts
  • Featured Articles
  • Top CEOs
  • Events
No Result
View All Result
  • Home
  • Technology
    • Supply Chain
    • Enterprise Security
    • Cloud Technology
    • RegTech
    • HPC
    • Collaboration
    • IoT
    • Compliance
    • Artificial Intelligence
    • Field Service
    • CRM
    • Project Management
    • Fintech
    • Risk Management
    • Cyber Security
    • Enterprise Architecture
    • EAM
    • ECM
    • Block Chain
    • Data Analytics
    • Robotics
    • Disaster Recovery
    • Marketing
    • Workflow Management
  • Industry
    • Retail
    • Healthcare
    • Construction
    • Pharma
    • Education
    • Textile
    • Aerospace and Defense
    • Banking
    • Smart City
    • Oil and Gas
    • Telecom
    • Travel & Hospitality
    • Agri Tech
    • Media & Entertainment
    • Logistics
    • Manufacturing
    • Legal
    • Government
    • Real Estate
    • Automotive
    • Food and Beverage
    • Biotech
    • HR
    • Insurance
    • Energy and Utilities
    • Contact Center
    • Capital Market
    • Chemical
    • Sports
  • Solution Providers
    • Aerospace and Defense
    • Agri Tech
    • Artificial Intelligence
    • Automotive
    • Banking
    • Capital Market
    • Cloud Technology
    • Collaboration
    • Construction
    • Contact Center
    • CRM
    • Cyber Security
    • Data Analytics
    • Disaster Recovery
    • EAM
    • ECM
    • Energy and Utilities
    • Enterprise Architecture
    • Enterprise Security
    • Fintech
    • Government
    • Healthcare
    • HR
    • Insurance
    • IOT
    • Legal
    • Logistics
    • Manufacturing
    • Marketing
    • Oil and Gas
    • Pharma
    • Retail
    • Risk Management
    • Smart City
    • Supply Chain
    • Top CEOs
  • Magazines EditionsWhat's New
  • News & PR
    • News
    • Press Release
  • CXO Thoughts
  • Featured Articles
  • Top CEOs
  • Events
No Result
View All Result
MYTECHMAG-A Leading Technology Magazine
No Result
View All Result
Home News

Shopify Acquires Warehouse Automation & Robotics Firm

Michael Stewart by Michael Stewart
September 13, 2019
in News
18
SHARES
72
VIEWS

Shopify is procuring 6 River Systems, and a start-up concentrated on warehouse industrialization technology development for e-commerce and retail operations. The acquisition is designed to accelerate the growth of the Shopify Fulfilment Network, which began in June. The deal is valued at almost $450 million — 60 percent in cash and 40 percent in shares.

With 6 River Systems, Shopify combines cloud-based software and collaborative mobile robots named “Chuck,” capable of moving packages encompassing a warehouse, to the Shopify Fulfilment Network. The 6 River technologies are intended to help Shopify increase the speed and security of its warehouse operations by commissioning on-site associates with daily duties, including inventory replenishment, picking, classifying, and packing.

The deal also provides Shopify access to the robotics masters who helped develop Amazon’s robotics market when they were at Kiva Systems (before Amazon procured that company).

Shopify’s growth has increased manifolds in the past 12 months, with the e-Commerce platform’s stock plummeting a whopping 150 percent in that time frame. After transcending eBay’s market capitalization earlier this year (now up to $40 billion to approximately $34 billion), Shopify is expected to move eBay in terms of merchant sales capacity in the U.S. as well, as per a note from investment bank R.W. Baird. Shopify announced $362 million in Q2 revenue last month, up 48 percent from the year-ago period. The transaction is assumed to have no impact on Shopify’s revenue in 2019 but is expected to improve the company’s annual expenses by approximately $25 million.

The transaction is assumed to have no impact on Shopify’s earnings in 2019 but is expected to improve the company’s annual expenses by approximately $25 million. The deal is expected to close in the fourth quarter of 2019. Shopify calculated that 6 River Systems would have annual revenues of about $30 million in 2020.

Michael Stewart
Share1Tweet5Share7
Previous Post

Transforming Contact Centre Arena

Next Post

Contact Center Edition Sep 2019

Related Posts

News

Unleash Innovation. Transform Results.

June 9, 2022
Football Stadium Dracut MA Dynamic Effects
News

Sports and Entertainment Venues Win Big with Synapse Wireless Sports Lighting Solution Release Remote Access, Customized Control, and Dynamic Effects

June 1, 2022
News

Automation In Construction Unlocks New Value For Businesses

May 12, 2022
Next Post
MYTECHMAG Contact Center Edition Sep 2019

Contact Center Edition Sep 2019

  • Exhivits The Virtual Exhibition Side Banner
  • 12th NFP Side Banner
  • 11th NFP Side-Banner
  • 2nd FIF side banner
  • OGAD Banner
  • Cyber Defense Side Banner
Tweets by MyTechMag
  • 2nd FIF side banner
  • Exhivits The Virtual Exhibition Side Banner
  • OGAD Banner
  • 11th NFP Side-Banner
  • 12th NFP Side Banner
  • Cyber Defense Side Banner
MYTECHMAG

Transforming news into insights, not only do we serve as a source of information but as the breeding ground for innovative ideas and exchange of breathtaking strategizes that can make a difference in your technological understanding.

Follow Us

  • Home
  • About Us
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Sitemap
  • News
  • Subscribe
  • Contact Us
  • RSS
  • Write For Us

Recent Posts

Document Management Workflow

How Document Management Workflow Assists Organizations

July 6, 2022
Cloud Workflow Application

What Is The Purpose Of A Cloud Workflow Application?

July 6, 2022
  • About
  • Privacy & Policy
  • Contact

© Copyright © 2022 MYTECHMAG. All Right Reserved.

No Result
View All Result
  • Home
  • Technology
  • Industry
  • Solution Providers
  • Magazines Editions
  • News & PR
    • News
    • Press Release
  • CXO Thoughts
  • Featured Articles
  • Top CEOs
  • Events

© Copyright © 2022 MYTECHMAG. All Right Reserved.

Company Of The Month

Infoclutch Inc

Explore Untapped Market With Pristine B2B Data