DSW (DSW) has announced plans to buy online shoe retailer Ebuys, which operates the ShoeMetro and ApparelSave brands.
DSW will be paying $62.5 million for Ebuys and will make additional payments depending on the company’s performance following the acquisition. The deal will expand the company’s presence across the United States, Europe, Australia and Asia, which aligns with its recent plans.
Current Ebuys CEO David Duong will keep his role at the company after the deal closes. Ebuys’ will still operate as its own brand that will continue to work out of its offices in San Diego, Calif., and Antioch, Tenn.
DSW is expecting the deal to acquire Ebuys to close in the next 30 days and said it will be accretive to its 2016 EPS. More information of the acquisition will be reveled during the company’s Q4 earnings report for 2015.
DSW shares were up 5% as of Noon Wednesday.
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