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[November 18, 2009]

GSI Commerce closes Retail Convergence buyout

(M&A Navigator Via Acquire Media NewsEdge) US e-commerce service provider GSI Commerce (NASDAQ:GSIC) said today it has finalised the acquisition of sector player Retail Convergence (RCI) for USD180m (EUR120.5m) in cash and stock.

GSI agreed to take over its peer in late October saying the deal would strengthen its online sales platform. As part of the deal, an earn-out of USD170m will be paid as well, based on certain financial performance indicators by 2012.

The acquisition of RCI is expected to be accretive in 2010, GSI said.

Country: USA Sector: IT/Online services; Wholesale/Retail Target: Retail Convergence Inc Buyer: GSI Commerce Inc Deal size in USD: 180m Type: Corporate acquisition Financing: Cash & Stock Status: Closed ((Comments on this story may be sent to tww.feedback@m2.com)) (c) 2009 M2 COMMUNICATIONS

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