Ashford.com completes Watchnetwork.com acquisition

Ashford.com completed its acquisition of Watchnetwork.com, originally announced in February. The transaction is expected to expand Ashford.com's direct relationships with leading watch brands, improve the economics of its largest retail category, and grow its emerging corporate business. Watch Network shareholders will receive approximately 2 million shares of Ashford stock at closing and may receive up to an additional 5.5 million shares of Ashford stock if certain contingencies are satisfied. Scott Hockler, former president of Watchnetwork.com, has been elected to the Ashford.com board of directors and will serve as president of Ashford's Watch Division.