April 27 (UPI) — Mobile payment processor Square announced Friday it will pay $365 million to acquire website and marketing company Weebly.
Square said it will use cash and stock to buy Weebly, which has millions of customers internationally and 625,000 paid subscribers.
The purchase will offer managed payment solutions to Weebly, and provide Weebly technologies for Square.
The deal will also aid in Square’s plans for global expansion.
“Square and Weebly share a passion for empowering and celebrating entrepreneurs,” said Square CEO Jack Dorsey. “Square began its journey with in-person solutions while Weebly began its journey online. Since then, we’ve both been building services to bridge these channels, and we can go even further and faster together.”
Both are San Francisco-based companies aimed at serving entrepreneurs and small companies.