GigaCloud Technology Inc Announces Acquisition of Wondersign

Paving an Innovative Way for Advanced Technology and Expansive Retail Experiences

WALNUT, Calif., Nov. 16, 2023 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that it has completed the acquisition of a 100% equity interest of Apexis, Inc., a Florida corporation dba Wondersign (“Wondersign”), for a total cash consideration of $10.0 million, subject to customary purchase price adjustments. Wondersign is a cloud-based interactive digital signage and e-catalog management SaaS company headquartered in Tampa, Florida with access to thousands of storefronts across the United States through its customers. Wondersign develops and maintains “Catalog Kiosk,” a leading digital catalog software that allows retailers to display an endless aisle of products and better connect with today’s omni-channel shoppers.

“We are thrilled to announce this acquisition of Wondersign, which brings together our technology-driven GigaCloud Marketplace with the expertise and extensive network of Wondersign, further accelerating our reach to brick-and-mortar retail stores. One of the key strategic advantages of this acquisition is the ability for us to launch an exciting new solution, the GIGA IQ package, our new innovative solution package which is expected to enhance the transaction experience for both users on our GigaCloud Marketplace and traditional retail customers from brick-and-mortar stores,” said Larry Wu, Founder, Chairman, and Chief Executive Officer of GigaCloud.

Starting with Wondersign’s Catalog Kiosk, the GIGA IQ package is expected to be equipped with additional modules to enable interactive personalized product recommendations. Other valued-added functions, such as seamless products search and transaction on the kiosk, would allow customers to effortlessly find and purchase products from GigaCloud Marketplace through the integrated system. The Company’s goal is to make GigaCloud Marketplace a customer-facing and seamless platform, providing a user-friendly experience for both platform participants and retail store customers.