Shopify to Acquire 6 River Systems for $450M

​September 10, 2019

Shopify announced today that they are buying autonomous mobile robot vendor 6 River Systems for $450 million. ​This acquisition is a logical extension of the news from June, when Shopify introduced the Shopify Fulfillment Network, a powerful and trusted fulfillment network that will ensure timely deliveries, lower shipping costs, and provide superb customer experience for merchants and their customers. This acquisition ​will help Shopify build out and automate their fulfillment centers. The good news for existing 6 River Systems customers is that they will also continue to build and sell their solution for ​the general market.

6 River Systems is emerging as a leader in the AMR warehouse fulfillment space with an estimated ​​$25M in annual revenue, so the acquisition comes in at an 18x multiplier. This announcement is the second major acquisition this year of an AMR vendor in the warehouse automation space, following the acquisition of Canvas Technology by Amazon in April.

“Shopify is taking on fulfillment the same way we’ve approached other commerce challenges, by bringing together the best technology to help everyone compete,” said Tobi Lütke, CEO of Shopify. “With 6 River Systems, we will bring technology and operational efficiencies to companies of all sizes around the world.”

Terms and Financial ImpactUnder the terms of the agreement, which has been approved by 6 River Systems’ stockholders, Shopify will acquire all of 6 River Systems’ outstanding securities in a transaction valued at approximately USD$450 million, consisting of approximately 60% in cash and 40% in Shopify Class A Subordinate Voting Shares. Included in this amount are Shopify Class A shares and options valued at approximately $69 million that will be issued to 6 River Systems’ founders and employees that will vest subject to certain conditions and will be treated as stock-based compensation. Subject to various closing conditions, the acquisition is expected to close in the fourth quarter of 2019.

Shopify reported $320.5 million in first-quarter revenue, up by 50% from the prior year, and $10.3 million in adjusted net profit, compared with $4.2 million for the same period in 2018. The company had an adjusted operating loss of $1.4 million, or 0.4% of revenue, compared with $0.2 million or 0.1% of revenue in the first quarter last year. (​Source: the WSJ)

For more info, read the press release here.

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Written by

Mike Oitzman

Mike Oitzman is Senior Editor of WTWH's Robotics Group, cohost of The Robot Report Podcast, and founder of the Mobile Robot Guide. Oitzman is a robotics industry veteran with 25-plus years of experience at various high-tech companies in the roles of marketing, sales and product management. He can be reached at