Tuesday, May 11, 2010

InfoSpace Buys Mercantila's e-Commerce Business

Bellevue-based InfoSpace said this morning that it has purchased the e-commerce assets of Mercantila, a online specialty retailer, in a deal worth $8M in cash plus assumption of up to $5.9M in certain liabilities. According to InfoSpace, the buy will provide the company with a "foundational technology platform" to help it differentiate its e-commerce strategy. InfoSpace said it hopes to become a "strong" e-commerce provider with the buy. Mercantila will become a wholly owned subsidiary of Infospace, headed by former Mercantila Chief Merchandising officer Nikhil Behl. InfoSpace said that Mercantila owns more than 200 specialty stores on the web. The firm was advised by Union Square Advisors in the buy.