eToys Direct and BabyUniverse Announce Completion of $276 Million Merger
2007年10月16日 - 12:39AM
PRニュース・ワイアー (英語)
Members of the D. E. Shaw Group to Become Largest Shareholders of
the Combined Company DENVER, Oct. 15 /PRNewswire-FirstCall/ --
eToys Direct, Inc., an eCommerce and direct marketer of toys and
other youth-related products, and BabyUniverse, Inc.
(NASDAQ:POSHD), a leading eContent, eCommerce, and new media
company in the pregnancy, baby and toddler marketplace, today
announced the completion of their merger. Under the terms of the
merger announced on March 13, 2007, the holders of eToys Direct
common stock now own approximately two thirds of the new company
and BabyUniverse shareholders own approximately one third. The
transaction was approved by BabyUniverse shareholders at a special
meeting on Friday, October 12, 2007. The merger was previously
approved by eToys Direct shareholders, including its largest
shareholders, members of the D. E. Shaw group of companies. The new
company will be located in Denver, Colorado and, subject to
shareholder approval, will be renamed The Parent Company. Common
stock in the combined company will trade under the temprorary
BabyUniverse ticker (NASDAQ:POSHD) until the name change, at which
time The Parent Company will trade under the Nasdaq ticker KIDS.
"This is a transformational merger, enabling the combined eCommerce
company to grow rapidly by leveraging its strong eContent
capabilities," said Daniel Posner, a managing director of D. E.
Shaw & Co., L.P. "The combined company will offer an impressive
combination of resources that satisfy the needs of, and create an
online community for, new and growing families," said John Textor,
Chairman of the Board. Michael J. Wagner, Chief Executive Officer,
commented, "The combination of BabyUniverse's expertise in managing
and growing eContent-based businesses and eToys Direct's
proficiency in high-volume fulfillment, inventory management, and
top-quality customer service, creates a strong platform to drive
sustainable growth in shareholder value." About eToys Direct eToys
Direct offers thousands of toys, custom dolls, video games and baby
products to online and catalog shoppers through its popular web
sites and its strategic retail partnerships. The company owns eToys
(http://www.etoys.com/) and the My Twinn doll company
(http://www.mytwinn.com/) and operates KBtoys.com
(http://www.kbtoys.com/) under a long-term licensing agreement.
eToys Direct also provides a toy and video game solution to its
online and catalog partners, supplying category management,
full-featured content, inventory control, order fulfillment, and
customer support. About BabyUniverse, Inc. BabyUniverse, Inc.
(NASDAQ:POSH) is a leading Internet content, commerce and new media
company in the pregnancy, baby, and toddler marketplace. Through
its Web sites BabyUniverse.com and DreamtimeBaby.com, the company
is a leading online retailer of brand-name baby, toddler and
maternity products in the United States. Through its Web sites
PoshTots.com and PoshLiving.com, the company has extended its
offerings in the baby and toddler market as a leading online
provider of luxury furnishings to the country's most affluent
female consumers. Through BabyTV.com, PoshCravings.com and
ePregnancy.com, BabyUniverse has also established a recognized
platform for the delivery of content and new media resources to a
national audience of expectant parents. The overall objective of
BabyUniverse is to establish a market-leading content, commerce and
new media business focused on the high-growth female marketplace.
About the D. E. Shaw Group The D. E. Shaw group is a global
investment and technology development firm with more than 1,300
employees; approximately $33 billion in aggregate investment
capital as of October 1, 2007; and offices in North America,
Europe, and Asia. Since its organization in 1988, the firm has
earned an international reputation for financial innovation,
technological leadership, and an extraordinarily distinguished
staff. DATASOURCE: BabyUniverse, Inc. CONTACT: Company contact:
Sheliah Gilliland of BabyUniverse, Inc., +1-303-226-8685, ; Media
Contact: Joan Cear of G.S. Schwartz & Company, +1-212-725-4500,
; The D. E. Shaw Group Contact: Andy Merrillm, or Tripp Kyle, ,
both of Finsbury Group, +1-212-303-7600; Investors: John Baldissera
of BPC Financial Marketing, +1-800-368-1217 Web site:
http://www.babyuniverse.com/ http://www.etoys.com/
http://www.kbtoys.com/ http://www.dreamtimebaby.com/
http://www.poshtots.com/ http://www.mytwinn.com/
http://www.poshliving.com/ http://www.poshcravings.com/
http://www.epregnancy.com/ http://www.babytv.com/
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