Posted - 21 Nov 2008 20:12 GMT
updated - 21 Nov 2008 20:15 GMT
UK-based Jamplant buys Yahoo Kelkoo unit
The private equity firm, formed by several angel investors, purchased the Yahoo unit for an undisclosed amount. Yahoo bought Kelkoo, an online shopping engine, for $576m in 2004.
Yahoo has sold its Kelkoo unit, an online shopping engine, to UK-based private equity firm Jamplant for an undisclosed amount.
A Yahoo spokesman confirmed the deal but would not comment on the financials of the transaction.
Yahoo acquired Kelkoo in 2004 for $576 million. Kelkoo is a comparison online shopping engine, in which customers can input the name of the product they want to purchase and see who is selling it and for what prices.
According to a letter from Kelkoo to its customers that has appeared in several news outlets, including CNET News, Jamplant is a newly formed private equity firm seeded by several angel investors. The letter says that Philip Smyth is the chairman of Jamplant.
Contact information or details about Jamplant could not be located as of press time.
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