Retail Convergence Sells For $350 Million
GSI Commerce Inc. (Nasdaq: GSIC) has agreed to acquire Retail Convergence Inc., a Boston-based operator of private sale site RueLaLa.com and discount e-commerce site SmartBargains.com. The deal is valued at up to $350 million, including a $180 million up-front payment (50% in cash), and an earn-out of up to $170 million. Retail Convergence had raised a $25 million Series A round in April 2008, from Breakaway Ventures, New England Development, Mugar Investments and General Catalyst Partners.
29 October 2009•5 mins read
