Blucora Inc. announced earlier today that it has signed the deal to acquire California-based Monoprice, a successful online-based electronics and accessories provider. The terms of the transaction stipulated an all-cash payment of US$180 million from Blucora, on or before the closing of the deal in the third quarter of 2013.
Monoprice, which was founded in 2002, is a leading e-commerce business based in Rancho Cucamonga, California. The company specializes in supplying topgrade yet affordable consumer technology and electronics, which includes a broad portfolio of mobile accessories, pro audio equipment, home theater equipment and cables. Since its establishment in 2002, the company has developed and marketed over 5,000 products through their website, building its outstanding reputation on reliability and quality.
The acquisition, wherein Monoprice will become a wholly-owned subsidiary by the Internet-based company, is expected to increase Blucora earnings per share.
"We are pleased to welcome Monoprice to the Blucora portfolio" stated Blucora Chief Executive Officer and President William J. Ruckelshaus. "Monoprice is a disruptive participant in large markets for electronics and tech accessories where purchasing is rapidly moving online. The Company has deeply loyal customers and significant runway ahead. We are tremendously impressed with the Monoprice team and excited about our future together."
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