Enhanced Services Buys 'BrandsForLess.com' for $35 Million
Page 1 of 1
Enhanced Services Company Inc. in Los Angeles said that it has acquired privately held e-commerce firm BrandsForLess.com for $35 million.
BrandsForLess.com operates an online department store featuring about 60 departments that it calls "e-partments," selling name brand goods at a discount. The company also develops and administers various e-commerce stores appearing under the brand names of various portal and destination sites.
"BrandsForLess.com has forged numerous strategic relationships with some of the most popular names on the Internet to position itself as a leading e- commerce solution for online shopping. Their success is largely the result of addressing what consumer studies have indicated to be missing within the online shopping environment--convenience, simplicity and reliability at a discount," said Rob Chmiel, COO of Enhanced Services.
"This acquisition is a logical extension of our strategy to acquire companies that have a proven track record and expertise of driving revenue through the Internet," he said.
BrandsForLess.com currently offers more than 1,500 brands, and over 500,000 products on its site. It also develops and administers various "virtual" department stores licensed under the names of major portal and destination sites such as DejaNews.Com and CNN.com.
Enhanced Services said the combination of the brands site with its ad network Zulu-tek and its pending acquisitions, "represent the convergence under one umbrella of diverse services focused specifically on the Internet as a communications and transaction medium creating a new specialty in the e-commerce arena."