Wix.com Ltd Expands Services through Acquisition
Wix.com Ltd, a web platform operator and developer, has acquired Base44 in a deal reportedly worth around $80 million. Base44 is a hyper-growth startup that simplifies web and app creation with AI.
The acquisition is expected to support natural language software development, further enhancing Wix’s capabilities. This move aligns with the company’s efforts to expand its services.
Analyst Views
Cantor Fitzgerald has maintained a neutral stance on Wix’s prospects, citing growth concerns. In contrast, Wells Fargo has upgraded Wix’s stock rating to Overweight, citing the company’s upcoming products and potential price increase.
Key Details
- Acquisition price: around $80 million
- Acquired company: Base44, a hyper-growth startup
- Reason for acquisition: to support natural language software development and expand services
- Analyst views:
- Cantor Fitzgerald: neutral stance
- Wells Fargo: upgraded stock rating to Overweight