The deal will gain Shopify additional capacity for fulfillment. The company said it will improve delivery times and cut costs.
Shopify said the deal consisting of approximately 60% in cash and 40% in Shopify Class A Subordinate Voting Shares, is expected to close in the fourth quarter.
Shopify shares fell $21.75, or 5.7% to $358.67 in regular trading ahead of the announcement. Shares were little changed in after hours action.