In its second-largest acquisition, Amazon buys the company for $970 million.
Hilton Hotels Corp. and cataloguer SkyMall Inc. are planning to develop cobranded retail and custom shopping solutions via Hilton's corporate Web site. Hilton's Web site this month will launch the travelers e-shop, a virtual mall format from which customers can make purchases from SkyMall's premier merchants. Hilton and SkyMall will promote the travelers e-shop through newsletters, brochures, emails, direct mail and other targeted communications to their customers. Thomas Edwards, president of subsidiary SkyMall Ventures Inc., says the deal fits in with SkyMall's business-to-business initiatives and to encourage repeat purchases from Hilton's "highly desirable" customer base. Under the agreement, Durham & Co., a SkyMall subsidiary, plans to build a separate Internet portal for meeting planners, businesses, associations and other organizations to buy incentive awards and order corporate logo merchandise for conventions and meetings that are held at Hilton hotels.