Liberty Interactive Corporation, the parent company of shopping channel QVC, has agreed to buy e-commerce site Zulily for US$2.4 billion (€2.2 billion).
Under the terms of the planned deal, Zulily will join the QVC Group to create a “discovery-driven and experiential digital commerce powerhouse” aimed at a female audience.
Commenting on the agreement, Liberty Interactive president and CEO, Greg Maffei, said that Zulily’s founders “have built an impressive business around entertainment, discovery and value to the customer, which fits perfectly with the QVC philosophy. Combined under Liberty, we have an incredible opportunity to delight shoppers from the TV to the Internet.”
Zulily president and CEO Darrell Cavens added: “This combination under Liberty is about investing in our future and providing a tremendous opportunity to accelerate our platform for growth of the Zulily brand through the partnership with QVC.”
Liberty Interactive has entered a definitive agreement to buy all outstanding shares of Zulily for US$18.75 per share. After the deal closes, Zulily will remain based in Seattle and will continue to be run by existing management team led by Cavens.
The transaction has been approved by the boards of directors of both companies and is expected to close during the fourth quarter of 2015.
Join the discussion on LinkedIn.
ICYMI: Amazon set for US$1 billion NFL streaming deal digitaltveurope.com/2021/03/05/ama… https://t.co/v8pAI05Ujn
05 March 2021 @ 21:00:00 UTC
ICYMI: @paramountplus launches digitaltveurope.com/2021/03/05/par… https://t.co/3j69bw7Jvn
05 March 2021 @ 20:00:01 UTC
ICYMI: Digital TV Europe is excited to announce the release of our 2021 Industry Survey!
Thank you to our sponsors… twitter.com/i/web/status/1…
05 March 2021 @ 19:00:02 UTC
DTVE: the week in view – The live-streaming revolution digitaltveurope.com/comment/the-li… https://t.co/pt7qxb6Ul7
05 March 2021 @ 18:32:30 UTC
Vodafone Portugal gets Gametoon in renewed SPI/FilmBox deal digitaltveurope.com/2021/03/05/vod… https://t.co/I0gFmgtOFb
05 March 2021 @ 18:00:00 UTC