SPS Commerce Inc. acquired 100 percent of Toolbox Solutions Inc. through a stock purchase. FaegreBD represented SPS in the purchase.
SPS paid the shareholders of Toolbox Solutions Inc. $18.4 million in cash and $4.5 million in stock. This amount includes $1.1 million of stock that is subject to an earnout and was not issued at closing.
Toolbox Solutions Inc. is based in Ontario, Canada and is in the business of providing point-of-sale analytics and category management services to retailers and consumer packaged good suppliers.