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Industry: Email Alert RSS FeedAshford.com reports spinoff of art division - GUILD.com - Brief Article
DSN Retailing Today, August 6, 2001
HOUSTON -- Ashford.com, a leading e-commerce destination for corporate and personal gifts and rewards, spun off its art division, GUILD.com, as an independent company late last month. The two companies will become strategic partners after the divestiture is complete, sharing revenue from GUILD.com art sales on Ashford.com and cooperating on a variety of marketing activities.
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Each company will retain the assets it gained when Ashford acquired GUILD.com, a deal that was announced Jan. 4, 2001. Additionally, Ashford will retain a minority equity interest in GUILD.com, and GUILD.com shareholders will continue to own Ashford stock.
COPYRIGHT 2001 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2001 Gale Group
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