New York-based private investment firm Clearlake Capital Group
has sold general merchandiser Buy.com to Japanese online shopping
mall Rakuten. The all-cash deal values Buy.com at approximately
$250 million (£172.8 million).
In a statement, Rakuten said that the acquisition will accelerate
the company’s expansion into North America and Europe. Buy.com
launched its UK and European websites late last year and says it
has experienced a year-on-year growth of 146 percent in its
marketplace in Europe and the USA in 2009.
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