Diamond.com Purchases Ashford.com From GSI Commerce; Deal Strengthens Diamond.com's Brand and Commitment to Customer Satisfaction.Business Editors FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Dec. 9, 2002 Diamond.com (http://www.diamond.com), the pre-eminent source for certified diamonds, fine jewelry and brand-name watches on the Internet, announced today that it has entered into a definitive agreement to acquire certain assets of Ashford.com, including Ashford.com's trademark, URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. , other intangible assets and selected inventory. Ashford.com represents a strong brand with a name that is recognized as a retail leader of luxury goods on the Internet. Prior to its acquisition by GSI Commerce GSI Commerce is an ecommerce company specializing in running online shopping sites for brick and mortar companies that wish to have an online presence. It contracts with companies such as Zales,[2] iRobot,[3] Hershey's, Palm Inc. , Inc., Ashford.com was a public company with annual revenues in excess of $45 million. With the addition of Ashford.com, Diamond.com will be the pre-eminent fine jewelry and watch retailer on the Internet. Alan Lipton, President and Chief Executive Officer of Diamond.com, stated: "We are excited to add Ashford.com to our group of leading jewelry and watch online properties. The strong brand heritage and loyal customers of Ashford create an excellent match with our luxury goods infrastructure and overall category expertise. I am pleased that, as part of this transaction, we will gain GSI GSI - Gensym Standard Interface as a value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. strategic shareholder." About Diamond.com Diamond.com, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in Fort Lauderdale, Fla., is dedicated to bringing the widest selection of brand name watches and the highest quality diamonds direct from the source to the consumer at competitive prices. Diamond.com, WorldofWatches.com, DiamondDepot.com and 1-888-Watches.com utilize multiple website storefronts to meet the various needs of today's online consumers while utilizing a centralized infrastructure to provide value, top service and the widest product selection online. To find out more, please visit Diamond.com or any of our other sites, or call 1-888-DIAMOND. |
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