The owner of home shopping network QVC Liberty Interactive has agreed to acquire US flash sales site Zulily in a deal valued at $2.4bn (£1.5bn).
When complete, the two firms will operate as separate consumer-facing brands but will share QVC’s global scale, brand relationships and video commerce expertise and Zulily’s younger customer demographic, personalisation expertise and ecommerce capabilities.
“This combination under Liberty is about investing in our future and providing a tremendous opportunity to accelerate our platform for growth of the Zulily brand through the partnership with QVC,” said Darrell Cavens, president and chief executive of Zulily.
Zulily will remain based in Seattle following the close of the deal, which is expected to be complete in the fourth quarter of this year.
Liberty Interactive owns a range of ecommerce businesses in two trading groups, the QVC Group, which includes QVC and its interest in Home Shopping Network, and the Liberty Ventures Group, which includes its interest in Expedia and Bodybuilding.com and minority interests in Time Warner, among other things.