RedtagBiz acquires CrossMarket, a housewares and giftware exchange

RedtagBiz, Inc. has acquired CrossMarket Corp., owner of CrossMarket.com, a wholesale marketplace specializing in housewares, giftware, and related products. As a result of the acquisition, CrossMarket will be integrated into the RedtagBiz web site, a broad-based wholesale trading platform for buyers and sellers of consumer goods. Terms of the agreement were not disclosed. Mark Florence, president of CrossMarket, has joined RedtagBiz as senior vice president, charged with continued development of the housewares and giftware categories in RedtagBiz. In addition, all of CrossMarket`s employees have joined RedtagBiz and will continue to work out of CrossMarket`s offices in Medford, Mass. CrossMarket`s supplier relationships open access for RedtagBiz`s retail customers to thousands of new products in the housewares, giftware, and seasonal verticals. Current CrossMarket.com customers can access this inventory, in addition to the RedtagBiz.com inventory of consumer electronics, hardware, sporting goods, and other products, through www.redtagbiz.com.