IAC finds Boston's Shoebuy.com a good fit

IAC/InterActiveCorp of New York plans to acquire Boston-based dot-com survivor, Shoebuy.com Inc., an internet retailer of footwear and related apparel.

No financial details of the deal were released.

Shoebuy, founded in 1999, carries more than 400,000 products from more than 250 leading brands, according to company officials. Shoebuy recently launched Bagsbuy.com and officials say the company plans to extend into additional product categories.

Shoebuy's founder and chief executive officer Scott Savitz will continue to oversee the company's operations, as Shoebuy joins IAC's retailing sector.

IAC is a diversified holding company of businesses in sectors associated with the Internet.

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