The acquisition will be attributed to Liberty Interactive’s QVC Group tracking stock. QVC and Zulily are expected to operate as separate brands, however its collaboration will result in added opportunities, including leveraging QVC’s global scale, curation, vendor relationships and video commerce expertise at Zulily. Similarly, Zulily’s younger customer demographic, personalization expertise and e-commerce capabilities are expected to boost QVC.

With the agreement Zulily should maintain its headquarter as well as its management team, with Darrell Cavens remaining President and CEO. Mike George is being appointed to the Executive Committee of the Liberty Interactive Board of Directors and will serve on the committee with John Malone and Greg Maffei. Darrell Cavens will report directly to Mike George and the other members of the Executive Committee. In addition, Zulily co-founder Mark Vadon will join the Liberty Interactive Board of Directors.

The transaction has been approved by the boards of directors of both companies and is anticipated to close during the fourth quarter of 2015.