Home › DMW Daily › October 28, 2009

Retail Convergence to be Acquired for up to $350 Million

Authored by Mark Hefflinger on October 28, 2009 - 8:09am.
Boston - Retail Convergence, the Boston-based operator of RueLaLa.com and SmartBargains.com, an e-commerce marketplace, has agreed to be acquired by GSI Commerce, a provider of e-commerce and interactive marketing services.

The deal is valued at up to $350 million, including $180 million at closing and an earn-out of up to $170 million.

GSI said that the acquisition of Rue La La and SmartBargains.com will further its expansion as an e-commerce platform that can all support aspects of online sales and interactive marketing for retailers and consumer brands.

SmartBargains.com, launched in 1999, is a consumer marketplace for the sale of off-price merchandise across a range of categories.

Launched in April 2008, Rue La La is a members-only, e-commerce site offering premier brands at discount prices during two-day private sale events in the fashion, accessories, footwear, home, jewelry and other merchandise categories.

 

Related Links:
http://www.gsicommerce.com/index.php/en/article/918

Published in DMW Daily, October 28, 2009
tags: Deals | Acquisitions | Retail | Retail Convergence | RueLaLa.com | SmartBargains.com | GSI Commerce |



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