ValueVision buys e-retailing outsourcer FanBuzz
Minneapolis-based ValueVision Media, owner and operator of TV shopping network ShopNBC and Internet site ShopNBC.com, will acquire Minneapolis-based FanBuzz, a $20 million-a-year e-commerce and fulfillment provider of affinity-based merchandise to sports, entertainment and media companies, ValueVision announced today.
FanBuzz operates online stores for ESPN, CNN/Sports Illustrated, Salt Lake 2002 Olympic Winter Games, Los Angeles Times, Chicago Bears, USA Hockey, and other professional sports teams, leagues, and colleges. The deal is expected to close within 30 days. Financial terms were not disclosed.
FanBuzz will operate independently as a wholly owned subsidiary of ValueVision Media. Co-founder Scott Killian will continue to lead FanBuzz.
"This deal signals significant revenue and marketing opportunities to mutually drive both businesses," said Gene McCaffery, chairman and CEO of ValueVision Media. "We are pleased to have FanBuzz as part of the ShopNBC family. They have an impressive management team and merchant group, who have great experience in selling licensed products and apparel in an interactive way. They also have great contacts with major sports, media, and entertainment companies."
FanBuzz was founded in 1996 by Scott Killian and Tim Brule to pioneer the business model of operating online stores for well established brands and destinations.
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