Comparison-shopping service DealTime Ltd. yesterday announced an agreement to buy Epinions Inc., a provider of consumer reviews and ratings.
The deal aims to help DealTime shoppers make better buying decisions based on consumer feedback. Closure is expected in six weeks after regulatory and shareholder approvals. Terms were not disclosed.
New York-based DealTime will incorporate Epinions' 1 million consumer reviews on its site. Brisbane, CA-based Epinions will allow visitors to shop DealTime's 2,100 merchant partners on its site.
The combined firm will be known as DealTime. But both online companies will maintain their respective dealtime.com and epinions.com sites while mutually tapping their merchant relationships and distribution partners.
Epinions CEO Nirav Tolia will become chief operating officer of DealTime. DealTime will keep open Epinions' office in Brisbane.