E-commerce technology company ChannelAdvisor is establishing a presence in Latin America with a new office and a new strategic partnership.
The Morrisville-based company announced Thursday that it has opened an office in Sao Paulo, Brazil, that will serve as its e-commerce hub in Latin America. ChannelAdvisor provides technology that enables retailers to integrate and manage their online sales across a multitude of sales channels.
ChannelAdvisor also said it is teaming up with Latin America’s largest e-commerce operator, MercadoLibre.
“We believe that formalizing a strategic partnership with MercadoLibre will offer our customers access to new sources of demand and the ability to scale their business in this region,” David Spitz, ChannelAdvisor’s president and chief operating officer, said in a statement.
Spitz noted that market research firm Forrester rates Latin America as the world’s fastest-growing e-commerce market.
ChannelAdvisor shares were trading at $37.36, up 56 cents, Thursday afternoon. The company went public at $14 a share in May.