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Pioneering Newcastle-founded tech firm Moltin snapped up by Canadian company

An e-commerce company launched by young entrepreneurs in Newcastle has been snapped up by a Canadian company.

Moltin was launched in 2013 by North East developers Adam Sturrock, Jamie Holdroyd and Chris Harvey, who, while working for agencies, found that adding e-commerce functions such as shopping carts to websites could be challenging and expensive.

They simplified the process by creating a framework that meant good results could be achieved with just a few lines of code.

They launched their product, which provides the framework for developers to use in building e-commerce sites, allowing them to add functionality including inventory, checkout, payments to any device.

After getting its big break through Newcastle’s ignite100 startup accelerator, the firm relocated its headquarters to Boston, Massachusetts but it has retained its Newcastle base in Carliol Square.

Mr Sturrock is the sole co-founder to remain with the business, after Mr Harvey left in 2014 and Mr Holdroyd left last summer.

Now the fim has been acquired by fellow e-commerce developer Elastic Path, based in Vancouver, for an undisclosed amount.

Harry Chemko, co-founder and CEO at Elastic Path, said: “Our customers want secure, battle-tested solutions that provide the flexibility to cover every commerce experience possible, ranging from websites and retail stores to mobile apps, chatbots, VR and IoT.

“We have been committed to leading the charge in commerce innovation since our founding, and with the talent and technology Moltin brings to the table, Elastic Path enables every business to deploy revolutionary commerce experiences faster, easier and at greater scale than any other solution in the market.”

All of Moltin’s global employees have joined Elastic Path, including engineering, customer support, sales, marketing, and operations.

Moltin will keep its US and UK offices, allowing Elastic Path to expand its time zone coverage for customers around the world.

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