RealTime IT News

M&A West Acquires Virtualgroceries.com

M&A West Inc., which develops, invests in and operates Internet and technology-related companies, acquired online grocery site VirtualGroceries.com. Financial terms were not disclosed.

VirtualGroceries.com markets gourmet foods, wines, recipes, cookware and kitchenware and gift items through a network of specialty shops from around the world. The site is being developed in conjunction with Digital Bridge Inc., an e-commerce and Internet marketing subsidiary of M&A West.

"We're confident that this acquisition will strengthen our company's foothold on the forefront of E-Commerce and will be successful for everyone involved," said Scott Kelly, president and CEO of M&A West.

VirtualGroceries.com currently has several affiliations with online food vendors such as Peapod.com and Digital Chef Inc. Competition includes other online grocers such as NetGrocer, Streamline, Webvan and Wholefoods.com. M&A West's current investments include Virtuallender.com Inc., Workfire.com Inc., Digital Bridge Inc. and Linux developer and distributor OpenExpress.com Inc.