WordPress Specialist Hosting Provider WP Engine have announced that they have entered into a definitive agreement to acquire WordPress Hosting Provider Flywheel.
WP Engine’s current annual recurring revenue (ARR) is $132 million and Flywheel’s is $18 million, and with a current growth rate of 50%, the acquisition will put WP Engine on track to make $200 million in ARR by 2020 and likely pass the $1 billion mark for valuation, on the way to an IPO.
This is the largest acquisition to date in the WordPress space and once complete, WP Engine will power more than 120,000 brands and agencies in 150 countries served by nearly 900 employees across seven offices globally.
“This powerful combination furthers our vision to be the most relied upon platform for WordPress. Our continued investment in WordPress, our shared values and culture, our enterprise-class technology and support, our community of agency partners and most of all our people will be a powerful driver to bring our customers’ breakthrough digital experiences to life.” Heather Brunner, Chairwoman and CEO, WP Engine.
WordPress is the most popular CMS in the world powering 34% of the web, and growing. With the combined expertise of WP Engine and Flywheel, Agencies and their clients can look forward to slick development experiences, leading-edge innovation and award-winning support from more than 170 WordPress experts.
As a long-term partner of WP Engine we welcome this exciting news and look forward to the future enhancements to WP Engine’s Digital Experience Platform!
See the full announcement and further details about the acquisition here.
“This powerful combination furthers our vision to be the most relied upon platform for WordPress. Our continued investment in WordPress, our shared values and culture, our enterprise-class technology and support, our community of agency partners and most of all our people will be a powerful driver to bring our customers’ breakthrough digital experiences to life.” Heather Brunner, Chairwoman and CEO, WP Engine.