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Industry: Email Alert RSS FeedAmazon.com takes over Zappos.com
Corporate IT Update, July 23, 2009
CORPORATE IT UPDATE-(C)1995-2009 M2 COMMUNICATIONS
US online retailer Amazon.com (NASDAQ:AMZN) said late yesterday it has agreed to acquire footwear retailer Zappos.com in a deal estimated at nearly USD807m (EUR567m).
Amazon.com has offered to exchange 10 million of its shares for Zappos.com's outstanding stock and to assume all its options and warrants. In addition, Amazon.com will provide Zappos.com employees with USD40m in cash and restricted stock.
The deal, which is subject to various closing conditions, is expected to close in the autumn.
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