Deal is set to close on Friday and the merger will give Shopify the most powerful digital product lab in the world.

The deal, expected to close in the fourth quarter, will give the company the largest digital product business in the United States and the largest global online retailer, as well as the most profitable digital product brand.

The purchase price is $500 million, with the transaction valued at $4.4 billion.

Shopify shares closed at $39.75 on Thursday.

The merger, which is subject to regulatory approval, is expected to help Shopify increase its online sales and compete with Amazon and other online retailers.

The merged company, which has about 40,000 employees, will operate as

Shopified has more than 1,000 online retailers, including Walmart, Sears, and Macy’s.

The company’s chief executive, Jeff Weiner, said in a statement the deal would allow Shopify to build on its core businesses and products and expand the brand beyond retail.

The combined company will be “more capable, agile, and more productive” as it competes with “other leading ecommerce businesses,” Weiner said.

The combined company plans to be more productive by “solving our customer support issues quickly and efficiently, and building a better digital product experience across all of our products and services,” Weiner added.

In addition to its digital product, Shopify operates online store portals, a mobile app, and a content-management platform, which it says has been the “most effective and successful” of any online retailer in the U.S.