Online auction site Carnaby.com has entered into an agreement to purchase the controlling interest in Zenith Technology Inc. from telecommunications provider Prime Companies Inc.
The deal will result in the public company Zenith Technology being restructured as Carnaby Inc., the holding company of Carnaby.com. Rick Antunes, chairman and CEO of Carnaby.com, has been elected to the Zenith board of directors.
Carnaby.com lists over three million items for sale in over 7,300 categories, 65 local markets and 35 specialty sections.
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