WordPress theme and WooCommerce plugin provider YITH has been acquired by Newfold Digital and Siris Capital Group. YITH helps clients develop and expand their WooCommerce businesses with approximately 2.3 million active installs and over 100 plugins that efficiently answer most e-commerce demands. Financial terms of the transaction were not disclosed.
YITH is an independent WooCommerce plugin marketplace. The company designs, develops, maintains, and supports its library of over 100 free and paid WooCommerce plugins, assuring long-term reliability. All plugins are built using a unique architecture that would ensure 100 percent compatibility between plugins and the latest WordPress technology.
Newfold Digital is a global provider of online and commerce technologies, with approximately 7 million clients. Their portfolio includes well-known brands like Bluehost, and HostGator, next to brands such as CrazyDomains, Network Solutions, Register.com, Online.com, and others. The company was founded in 2021 as a result of the merger of prominent web services companies Endurance Web Presence and Web.com Group.
“For businesses everywhere, e-commerce has become a necessity to compete in today’s marketplace,” said Sharon Rowlands, Chief Executive Officer (CEO) at Newfold Digital. “Our nearly 7 million customers not only need online storefronts, but advanced features to support their specific niches, from advanced product catalog functionality to gift card solutions YITH’s impressive library of reliable WooCommerce plugins will help support our customers with their 2022 e-commerce resolutions.”
Private Equity
“Newfold Digital is a leader in WordPress and WooCommerce, and we are excited to join their growing business,” said Nando Pappalardo, Chief Executive Officer (CEO) at YITH. “Our mission to support online sellers across the globe will continue under Newfold’s leadership and will drive new innovation to match consumer behavior changes. As YITH joins Newfold Digital, we will continue to maintain the plugin library and deliver on our promise of reliability as we have for years.”
Founded in 2006, Clearlake Capital Group is operating integrated businesses across private equity, credit and other related strategies. Technology, industrials, and consumer are the private equity firm’s primary target industries. Clearlake presently manages more than $60 billion in assets, while its top investment principals have led or co-led more than 300 transactions. Clearlake Capital Group has offices in Santa Monica and Dallas.
Siris is a private equity fund that focuses on mature technology and telecommunications firms with mission-critical products and services that are undergoing substantial market upheavals or transitions. Siris’ Executive Partners and Advisors are senior operating executives with extensive expertise who actively participate in key stages of the transaction lifecycle to assist in the identification of opportunities and the creation of strategic and operational value. Siris has generated almost $6 billion in total capital commitments and has offices in New York, Silicon Valley, and West Palm Beach.
