Microsoft announced Tuesday that it is buying ecommerce software provider Southaven for $2.1 billion in cash and stock.
Microsoft CEO Satya Nadella will remain at the helm of the company for the next three years.
The company has been investing in ecommerce companies since Nadell left in 2014.
The sale to Microsoft is expected to close in the fourth quarter of 2020.
Southaven’s business model, which includes mobile and ecommerce products, includes mobile shopping and shopping across Microsoft devices, and eCommerce software, said the company in a statement.
Southaven is headquartered in Atlanta, Georgia.
The deal follows Microsoft’s purchase of ecommerce platform Shopify in 2019.
Microsoft has struggled to attract new customers to its own products in recent years, but the company is seeing strong growth in eCommerce and other technology-related businesses.
Its sales and marketing spend grew 11% in the first quarter of 2021, compared to the same period a year earlier, according to the company’s most recent quarterly report.
Microsoft is also growing its online services business.