US InfoSpace buys Mercantila's e-commerce ops to diversify business
(M&A Navigator Via Acquire Media NewsEdge) US Internet search tools provider InfoSpace (NASDAQ:INSP) said on Tuesday it had bought the e-commerce business of home online retailer Mercantila for cash USD8m (EUR6.3m) and assumption of up to USD5.9m liabilities, to expand its business model.
The deal was closed on 10 May 2010.
Through the acquisition of Mercantila's platform, organic growth and other purchases, InfoSpace aims to convert into a strong e-commerce player, chief executive, William J. Lansing, said.
Mercantila, set up in 1997 in San Francisco, comprises more than 200 online speciality retail stores.
Union Square Advisors provided financial advise to InfoSpace on the deal.
Country: ; USA
Sector: Wholesale/Retail; IT/Online Services
Target: E-commerce business
Buyer: InfoSpace Inc
Vendor: Mercantila Inc
Deal size in USD: 8m
Type: Corporate acquisition
Buyer advisor: Union Square Advisors LLC
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