Etsy, Inc., a U.S. e-commerce website focused on unique and creative goods, intends to pay $275 million to buy Reverb Holdings, Inc., a music equipment online marketplace.
The proposed acquisition of Reverb Holdings will help Etsy to expand into a new vertical market with similar strategies and business models.
Subject to customary closing conditions, the deal is currently expected to close in the late third quarter or early fourth quarter of 2019.
On completion of the transaction, Reverb Holdings will operate as a standalone business.