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Just announced: in a deal expected to close in the first quarter of this year, Nordstrom will acquire flash site HauteLook for
$180 $270 million. The release says:
Nordstrom will acquire HauteLook for $180 million in Nordstrom stock with a portion subject to ongoing vesting requirements. In addition, the transaction includes a three-year earn-out of up to $90 million in Nordstrom stock subject to company performance and vesting requirements for the existing management team. The overall transaction structure provides significant incentive and retention mechanisms for HauteLook senior management. HauteLook will operate as an independent, wholly-owned subsidiary, be managed by its current leadership and the HauteLook brand and website will remain separate from Nordstrom."We are excited to partner with HauteLook as we believe this acquisition further enhances our focus on serving customers online in new and compelling ways," Blake Nordstrom, president of Nordstrom, Inc., in a statement. “While our focus on providing a superior in-store shopping experience is our roots, continuing to find ways to use technology to serve customers the way they want to be served is critical. This partnership gives Nordstrom and HauteLook shared growth opportunities as online shopping evolves.”