Square said Thursday it has agreed to acquire website-building company Weebly for $365 million.
The cash-and-stock deal will allow small business customers to use both Weebly and Square to easily build professional websites and online stores, the companies said in a statement. The deal is expected to help Square accelerate its international expansion, as nearly 40 percent of its 625,000 paid subscribers are outside the US.
Founded in 2007, Weebly has raised $35.7 million in funding from Sequoia Capital, Tencent Holdings, Baseline Ventures, Floodgate, Felicis, Ron Conway and Y Combinator, according to CrunchBase.
The merger is expected to close in the second quarter of 2018.