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Seattle, June 10 (Bloomberg) -- Amazon.com Inc., the Internet's largest retailer, said it issued 877,657 shares to buy closely held Accept.com Financial Services Corp., which is developing ways to simplify online transactions.
The transaction is valued at about $101.7 million, based on Amazon.com's closing price today of 115 15/16. Details of the acquisition were disclosed in an Amazon.com filing with the Securities and Exchange Commission.
Accept.com was one of three Internet companies Amazon.com bought in April to further expand its selection of products and services, and attract more customers to its site. Amazon.com also bought Alexa Internet, a free service that helps people navigate the Web, and e-Niche Inc., a seller of rare books and music that does business on the Internet as Exchange.com.
Accept.com last year had a loss of $952,118 and no revenue, according to the filing. The company, based in Redwood City, California, is working on ways to eventually simplify business-to- consumer and person-to-person transactions over the Internet.
Amazon.com has bought other types of companies whose products can help consumers use the Internet.
In August, it agreed to buy closely PlanetAll and Junglee Corp. for about $280 million in stock. PlanetAll is a service that keeps track of people and appointments, while Junglee helps shoppers compare goods and prices sold online.
Officials at Seattle-based Amazon.com weren't immediately available for comment.
Jun/10/ 99 18:07
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