Asia.com +
Lohoo.com, eGain Communications + Nitman Software, Move.com + HouseNet.com,
QSound Labs +
Choicemall.com, TheSpot.co.au +
FlyingPig.co.nz, Vizacom + Silk Road
Interactive
TheSpot.com.au to merge with
FlyingPig.co.nz |
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Amount:
Undisclosed |
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Terms:
n/a |
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Premium: n/a |
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Industry: E-tailers |
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Scorecard: B- |
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SYDNEY, May 18--Online retailer TheSpot.com.au said it
planned to merge with New Zealand e-tailer FlyingPig.co.nz. 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 Amazon.com , currently holds
around 20- 25% of TheSpot, but its stake would be scaled back to around
15-20% after the merger.
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