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DSW acquires Ebuys

Feb 17, 2016 United States
DSW acquires Ebuys
The Ohio-based branded footwear and accessories retailer announced that it has entered into a definitive agreement to acquire Ebuys, a leading e-commerce off-price footwear and accessories retailer
Ebuys has a presence in North America, Europe, Australia and Asia, and according to DSW this deal will consolidate the company’s efforts to grow its market share within footwear and accessories domestically and internationally.

"The acquisition of Ebuys, Inc. represents a unique opportunity to add a business to the DSW Inc. portfolio that will strategically scale our off-price sourcing capabilities, expand our presence into digital marketplaces, and create opportunities to serve international customers online", stated Roger Rawlins, Chief Executive Officer of DSW Inc.

"I admire the DSW team and the depth of resources DSW has developed over the years. We're excited to be part of DSW Inc. and we are confident the new relationship will accelerate our growth and provide significant benefits to our customers, vendors and employees", commented David Duong, Chief Executive Officer of Ebuys, Inc.

Ebuys, Inc. will continue to operate as a distinct business within DSW and will maintain its offices in San Diego, California, and Antioch, Tennessee. David Duong will continue to lead the team as CEO of Ebuys, Inc.

The purchase price includes an upfront payment of 62.5 million US dollars as well as future payments contingent on the performance of Ebuys, Inc. DSW anticipates that the impact of the acquisition, excluding purchase accounting adjustments and transaction costs, will be modestly accretive to earnings per share in fiscal 2016.

The transaction is expected to close in the next 30 days. DSW will provide more details about the transaction during its fourth quarter earnings conference call, scheduled for the 15th of March.

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