FTD Companies News / Press Releases
FTD Companies, Inc. and Provide Commerce to Combine Businesses Creating a Floral and Gifting Company With Annual Revenue of Over $1 Billion
DOWNERS GROVE, Ill. and ENGLEWOOD, Colo., July 30, 2014 (GLOBE NEWSWIRE) -- FTD Companies, Inc. ("FTD") (Nasdaq:FTD) and Liberty Interactive Corporation ("Liberty") (Nasdaq:LINTA) (Nasdaq:LINTB) (Nasdaq:LVNTA) (Nasdaq:LVNTB) today announced that they have executed a definitive agreement under which FTD will acquire Liberty's Provide Commerce floral and gifting businesses. Under the terms of the $430 million transaction, Liberty will receive 10.2 million shares of FTD common stock representing 35% of the combined company and $121 million in cash. FTD and Liberty expect to complete the transaction by the end of 2014.
The rich heritages of FTD and Interflora began in the early 20th century. Innovation and creativity remain at the forefront of both iconic brands.Read More