LOS ANGELES -- BuyItNow.com and CE e-tailer pcWonders.com merged in early June in a stock-for-stock transaction. The new entity will retain the name BuyItNow.
pcWonders -- a wholly-owned subsidiary of eWonders.com that offers more than 120,000 brand-name products, including computers, portables, PDAs, printers and monitors -- received a one-third equity position for its assets worth about $100 million.
BuyItNow, whose largest stockholder is e4L, received a two-thirds equity position in the exchange for its assets valued at approximately $250 million.
The merger will act as a catalyst for BuyItNow to be used as a roll-up vehicle for consolidation in the computer hardware, software, Internet appliance and e-tailing markets. As part of the deal, eWonders.com will provide information-rich, onscreen content to increase the site's stickiness.
BuyItNow will be linked with priceWonders.com and ratingWonders.com, two sites that allow consumers to shop for the best price and rate the quality of the sites from which they buy.