WooThemes, a professional website theme developer and creator of the WooCommerce online merchant platform, announced today that it was acquired by Automattic, developer of the widely-used open-source WordPress software.

This is big news for web developers, designers, bloggers, and anyone using the WordPress platform (including TruthVoice) — over 20% of the web by recent estimations. Automattic, the corporation behind WordPress, is expected to bring support to the smaller WooThemes development team.

WordPress features a modular system that allows “themes” to be dragged and dropped onto the website, allowing developers to customize the look of their website independent of the content and functionality of their sites. Many WordPress websites and blogs use templates created by WooThemes for a professionally-developed design.

Prior to its acquisition by Automattic, WooThemes also developed and maintained WooCommerce, a popular e-commerce platform that allows users to quickly build and deploy websites where they can sell goods and services online. Since its launch in 2011, WooCommerce quickly became famous for its simplicity, and because it is free to use. According to WooThemes, it powers over 24% of all online stores.

A press release by WooThemes stated that users of their products, which include extensions and themes, will experience no change in their licenses. It appears the team will also remain the same, as they intend to keep their original developers on staff, now supplemented and supported Automattic resources and developers.

This could mean a change in the business landscape as the two companies join forces. Although a relative newcomer, WooThemes is already a major player on the market for WordPress themes, competing with other theme publishers like ThemeForest and Elegant Themes. Intimate access to the development of WordPress, coupled with extra support, could give WooThemes quite an edge as it continues to expand.

Automattic’s acquisition follows last year’s $160 fundraising effort, which include investments from Insight Venture Partners — a private venture capital firm with investments in other well-known companies, such as Twitter and Tumblr. Sources close to tech blogger Re/code claim Automattic will spend more than $30 million in cash and stock to purchase WooThemes and WooCommerce.

Automattic CEO Matt Mullenweg

Even if the investment turns out to be a solid one, further expansion isn’t expected to lead to an IPO. Automattic CEO Matt Mullenweg told the Wall Street Journal that the company, valued at $1.16 billion, had enough liquidity to build the company to the next level, and that he didn’t believe he needed to turn to the public for further funding.