Washington, DC – Looking to continue its global expansion, DC-based daily deals company LivingSocial has acquired Australian group buying site Jump On It, The Sydney Morning Herald reported.
Financial terms of the deal were not disclosed.
LivingSocial already had been a minority owner of the three-year-old company, buying a 31 percent stake for $5 million in 2010, the paper reported.
Jump On It, founded in 2009 by Colin Fabig, James Gilbert and Adam Rigby, will operate a subsidiary of LivingSocial, retaining its brand.
This article was also published in Potomac Tech Wire.
Related links:
Sydney Morning Herald – LivingSocial jumps on Australian group-buying outfit
Daily Deal Media – LivingSocial Australia Officially Acquires Jump On It
