LONDON (Alliance News) - MySale Group PLC on Thursday said it will buy three online consumer retail businesses from Grays eCommerce Group Ltd in Australia for AUD5.2 million.
The online retailer, which delivers flash sales sites in Australia, New Zealand, South-East Asia and the UK, said that the acquisition includes the domain names 'OO.com.au', 'dealsdirect.com.au', and 'topbuy.com.au'.
It said that the online businesses comprise three websites with around 3.1 million average monthly visits, an email database of 6.5 million customers, and 512,000 unique active customers of which 50,000 overlap with MySale's existing active customer base.
MySale said that it expects to exchange contracts on or around November 30. It will pay AUD3.0 million on exchange and the rest on completion, funded by its existing cash resources.
''This is a great opportunity to substantially grow our active unique customer base in Australia and fits with our strategy of widening our online proposition to leverage our existing assets. The sites being acquired are all well-recognised brands in their own right, with a female weighted customer base. There is very little overlap with our existing member base so there is also a good opportunity to cross-sell our core fashion offering,'' Chief Executive Carl Jackson said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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