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Online portal for women, iVillage, has agreed to buy the iVillage.co.uk site from UK retail giant Tesco, for an undisclosed sum.
The deal follows a previous agreement between the two companies in 2000, when Tesco secured a three-year contract with US-based iVillage to invest £18m the .co.uk domain
In 2003, Tesco purchased iVillage’s stake in the UK address, signed a 20-year deal to license iVillage content and intellectual property. However, iVillage said this new transaction supersedes the 2003 license agreement.
Douglas W. McCormick, chairman and CEO at iVillage Inc. said: "iVillage UK is currently one of the top destinations in the region for women and has enjoyed a leading presence in the UK for several years. This agreement enables us to move from a license deal to a 100% ownership position and, we believe, will generate increased value for our stockholders moving forward."
iVillage said it expects to close the deal in May, subject to regulatory and business requirements.
IVillage, formed in 1995, bills itself as "the Internet for women" and consists of several online and offline media channels relating to Women’s lifestyle content.
Source: http://www.netimperative.com/2005/03/31/iVillage_Tesco/view
By Robin Langford
31-03-2005 05:20 PM
The deal follows a previous agreement between the two companies in 2000, when Tesco secured a three-year contract with US-based iVillage to invest £18m the .co.uk domain
In 2003, Tesco purchased iVillage’s stake in the UK address, signed a 20-year deal to license iVillage content and intellectual property. However, iVillage said this new transaction supersedes the 2003 license agreement.
Douglas W. McCormick, chairman and CEO at iVillage Inc. said: "iVillage UK is currently one of the top destinations in the region for women and has enjoyed a leading presence in the UK for several years. This agreement enables us to move from a license deal to a 100% ownership position and, we believe, will generate increased value for our stockholders moving forward."
iVillage said it expects to close the deal in May, subject to regulatory and business requirements.
IVillage, formed in 1995, bills itself as "the Internet for women" and consists of several online and offline media channels relating to Women’s lifestyle content.
Source: http://www.netimperative.com/2005/03/31/iVillage_Tesco/view
By Robin Langford
31-03-2005 05:20 PM
