Liberty Media Corp. will acquire Provide Commerce Inc. for $477 million in cash, the company said Monday.
Provide described itself as “an e-commerce marketplace of Web sites for perishable goods marketed under the brands ‘ProFlowers,’ ‘Cherry Moon Farms,’ ‘Uptown Prime’ and ‘Secret Spoon.’”
Liberty is paying $33.75 per Provide share for the company.
“Provide Commerce is a market leader in online perishable goods and, through its advanced supply chain and superior execution, it has built scale and a strong competitive position,” Liberty chairman and CEO John C. Malone said in a prepared statement.
“We believe in the power of video to drive television and Web-based retailing businesses, and Provide is a compelling addition to our strategy,” he added.