Deals
Gilt Groupe Will Be Bought by Owner of Saks for $250 Million
Hudson's Bay CEO: Gilt to Help Grow Our Store Experiences
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Gilt Groupe Holdings Inc., a startup once valued at about $1 billion, agreed to be acquired by Hudson’s Bay Co. for $250 million in cash.
The business will be combined with Hudson’s Bay’s Saks Off 5th division, giving customers more online shopping options, according to a statement from the companies on Thursday. The deal is slated to close around Feb. 1.