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UPDATE 1-GTCR, Sycamore Partners buyout CommerceHub in $1.1 billion deal

(Adds details on deal, background on Sycamore, GTCR)

March 6 (Reuters) - CommerceHub Inc said on Tuesday private equity firms GTCR and Sycamore Partners will acquire the e-commerce software provider in an all-cash deal valued at about $1.1 billion.

The buyout offer of $22.75 in cash per share represents a premium of 24.5 percent to the stock's close on Monday.

The transaction is expected to close in the third quarter of 2018.

The private equity firms have a history of buying out companies. Last year, GTCR and Carlyle Group LP bought Albany Molecular for $922 million and Sycamore acquired Staples in a $6.9 billion deal.

Sycamore has a reputation for taking bets on retail investments others might eschew. Its previous investments include regional department store operator Belk Inc, discount general merchandise retailer Dollar Express and mall and web-based specialty retailer Hot Topic.

CommerceHub said it will become a privately held company and remain headquartered in Albany, New York.

Evercore and Baker Botts LLP were advisers to CommerceHub, while Kirkland & Ellis LLP advised to GTCR and Sycamore. (Reporting by Arjun Panchadar in Bengaluru; Editing by Bernard Orr)