RealTime IT News

When Pigs Fly +, eGain Communications + Nitman Software, +, QSound Labs +, +, Vizacom + Silk Road Interactive to merge with


   *  Amount:         Undisclosed


   *  Terms:            n/a

   *  Premium:        n/a


   *  Industry:        E-tailers


   *  Scorecard:      B-


    SYDNEY, May 18--Online retailer said it planned to merge with New Zealand e-tailer FlyingPig would have 37% of the merged firm, with TheSpot, which plans a further round of capital raising later this year, holding the remaining 63%. Through an alliance with bricks and mortar book retailer Angus & Robertson Bookworld, the merged company plans to become the region's largest online book seller.

    F2 Investments, a 50/50 venture between f2 and U.S. Internet retailing giant , currently holds around 20- 25% of TheSpot, but its stake would be scaled back to around 15-20% after the merger.