Online pet supplies store Pets.com Inc., New York, will acquire the assets of privately held Internet pet store PetStore.com and is expected to receive a $3 million equity investment.
Financial terms of the agreement were not disclosed.
San Francisco-based Pets.com said in a statement that the deal will allow the company to extend its reach in the online pet category without accelerating its cash needs.
The deal is expected to close by the end of June.
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