Wednesday, March 14, 2007
eToys Direct Merges With BabyUniverse
BabyUniverse, an online provider of pregnancy, baby, and toddler products, said today that it has merged with Denver, Colorado-based eToys Direct, the online toy retailer formed from a buyout of KB Toys. Financial terms were not disclosed, however the firms said the deal was an all stock merger, where BabyUniverse shareholders will own one third of the shares and eToys shareholders two thirds, of the merged firm. According to the companies eToys generated $117M in net sales for its fiscal year ending February 3, 2007. BabyUniverse was advised by Banc of America Securities in the deal; Financo Securities was adviser to eToys Direct.