Updated 4:47 p.m.
Florida software company Mi9 Retail said Monday that it is poised to acquire MyWebGrocer, the Winooski-based e-commerce firm that has long been a leader in the local tech scene.
Mi9 Retail of Miami did not say how the transaction would impact the employees in the headquarters of MyWebGrocer, which provides digital services for grocers.
But Barry Clogan, MyWebGrocer’s president of retail solutions, said that no employees would be laid off or be relocated as a result of the deal. “Four or five” workers did lose their jobs days ago, Clogan said, but that downsizing was not directly related to the deal.
Clogan declined to release terms of the deal.
Mi9 bills itself as a growing provider of software for retailers, wholesalers and consumer brands. It counts Aubuchon Hardware among its many clients. It has offices in Boston and Montréal, and also at locations in Europe, Asia and Africa.
“Combining MWG with Mi9 will increase our ability to serve our customers with innovative technology, professional services, and industry expertise,” said Barry Clogan, MyWebGrocer’s president of retail solutions. “Our technology and media businesses complement the Mi9 platform and will operate more efficiently with the scale and business process expertise that Mi9 has put in place. This is a real win-win for our customers and employees.”
Mi9 said that it has made other recent acquisitions that, combined with MyWebGrocer, will help the company better compete in the digital retail space.
Burlington natives Richard, Brian and Jerry Tarrant launched MyWebGrocer in 1999. Afters years of growth, the Tarrants moved the business from Colchester to Winooski’s Champlain Mill building in 2011.
In June 2013, HGGC, a Palo Alto, Calif., equity firm, bought a majority stake in MyWebGrocer.
MyWebGrocer had more than 300 employees in Winooski at the time of that transaction, according to HGGC. But the company has had rounds of layoffs in recent years.
HGGC will remain an investor with Mi9.
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Mi9 is based out of Florida, which means they don’t want to pay any taxes, so you can kiss these jobs good-bye.
Ain’t “capitalism” wunnerful?
It would be interesting to know how much, if any, of Vermont taxpayers money went to this company over the years either through tax breaks or small business development incentives.
As for there being no planned job losses, well thats more than likely a lie. These Vermont companies always sell out and always state that there will be no job losses but of course, there always are.
This sale has noting to do with serving customers better and has everything to do with making a buck. Why do they feel the need to lie about it?
I like capitalism . It feeds the sponges who get to gripe about it .
@ Roy,
You might find that not everyone who develops a successful business and makes money is personally cheating you out of anything.