Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Now that Liberty Media has finished acquiring BuySeasons, which owns and operates BuyCostumes.com, both companies will focus on product integration and diversification.
Liberty Media Corp. has completed its acquisition of BuySeasons Inc. Terms of the deal were not disclosed. BuySeasons, No. 204 in the Internet Retailer Top 500 Guide to Retail Web Sites, will become a wholly owned subsidiary of Liberty Media. “Now that the acquisition is complete, BuySeasons will turn its attention to growing BuyCostumes.com, our flagship site, and focus on new opportunities,” says CEO Jalem Getz.
To drive more traffic to BuyCostumes.com, BuySeasons has added more than 1,000 new items for Halloween. The company also is expanding into new categories such as birthdays and parties. In June, after more than a year of planning and research, BuySeasons added more than 3,000 party products to its online inventory. The products include customized party kits: Customers select a theme for a birthday or special occasion and then are able to custom order themed dinner plates, dessert plates, cups, napkins, invitations, envelopes and other items for the occasion.
“We are pleased with the rapid adoption of our new party line by our existing customer base,” Getz says. “The development of this new category demonstrates that we can cost-effectively remarket party supplies to our existing customers and significantly increase their purchasing frequency.”
BuyCostumes.com is expected to attract nearly 20 million visitors this year and now carries 13,000 SKUs in its online inventory, Getz says.