Internet software merchant Beyond.com, based in Sunnyvale, CA, has completed its acquisition of online software marketer Buydirect.com for approximately $123 million in stock.
Beyond.com reportedly gains more than 200,000 new customers from Buydirect.com, a pool of engineers, proprietary digital download technology, and key additional portal, content and broadband partnerships.
Michael Praisner will continue to serve as CFO of the new company. Buydirect.com CEO Bong Suh, becomes vice president of corporate development for Beyond.com; Buydirect.com COO William Headapohl, becomes vice president of software and digital delivery for Beyond.com.
No layoffs are expected to result from this acquisition, Beyond.com spokeswoman Laura Fulda, told DIRECT Newsline.
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