Internet software superstore Beyond.com has signed a definitive agreement to acquire Buydirect.com in a stock-for-stock transaction valued at more than $133 million.
The merger is expected to close by the end of March.
As a result of the acquisition, Beyond.com will gain 72 employees with broad expertise in engineering, business development, online media and software publisher relations. Beyond.com anticipates no layoffs as a result of the acquisition.
“This acquisition solidifies Beyond.com as the world leader in software resale over the Internet,” said Beyond.com president/CEO Mark Breier, in a statement. “Together, we now boast nearly 1 million cumulative customers, a deep management team, a talented pool of experienced engineers, leading proprietary digital download technology, and one of the most complete lists of portal, content and broadband partnerships in the industry.”
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