Mergers & Acquisitions

Online music service Rhapsody announced that it's purchased Napster from Best Buy. Rhapsody didn't disclose the price it paid for Napster, which Best Buy acquired in 2008 for $121 million in a bid to break into the online music subscription space.

Billabong announced that it moved to 100 percent control of the Sydney-based retailer Surfection, a business previously operated under a joint venture between the Billabong Group and interests associated with retailer Chris Athas.

Starting in 2005, Borders began amassing a database of more than 48 million email addresses of customers who participated in its loyalty program. Now that the company is in bankruptcy, that email database is seen as valuable property by Barnes & Noble, which won an auction to purchase Borders’ assets for $13.9 million. The problem for Barnes & Noble is that Borders originally promised many of the customers in its loyalty program that it wouldn't disclose their personal information without their permission. Borders changed its policy in May 2008, but collected millions of email addresses and other data before then.

Online home goods giant Wayfair (formerly CSN Stores) today announced that it's acquired Australian online home goods retailer Buyster.com.au. Wayfair already owned 50 percent of the company, but has now purchased the remaining 50 percent stake from technology investment firm, Netus.

After conquering online retail in diapers, soaps, beauty products and most recently pet supplies, Amazon-owned Quidsi is moving into its next vertical — toys. Quidsi is debuting YoYo.com, a toy e-commerce site that aims to provide recommendations and discovery tools to make kids toy shopping easy and fun.

Wal-Mart has acquired OneRiot, a mobile and social ad targeting startup, to join Wal-Mart Labs. Financial terms of the deal weren't disclosed.

At a special meeting held Sept. 10, BJ's Wholesale Club stockholders approved the definitive agreement between the company and Leonard Green & Partners and CVC Capital Partners to be acquired in a cash transaction valued at about $2.8 billion.

While many other retailers are increasing the number of outlet stores they operate, J.C. Penney is getting out of the business altogether. The retailer has reached a deal to sell 19 of its outlet stores to SB Capital. The department store chain made the decision to get out of operating the stores at the same time it is closing its print catalog business.

Liz Claiborne announced that it's agreed to sell its global Mexx business to a joint venture in exchange for 18.75 percent of the common equity of the joint venture and total cash consideration of $85 million, which includes $60 million of ABL facility debt that is expected to be assumed by the joint venture and refinanced at closing.

The Finish Line has invested $8.5 million to acquire an 18-store chain of specialty running shops with locations in eight states.