Amazon.com said today it has reached an agreement to acquire Quidsi, which operates Diapers.com and Soap.com.
Under the terms of the deal, which was approved by Quidsi's stockholders, Amazon will purchase all outstanding shares of Quidsi for $500 million in cash, and also take on $45 million in debt. The acquisition is set to close next month.
"I'm not sure which is more unpleasant--changing diapers, paying too much for them, or running out of them," said Jeff Bezos, Founder and CEO of Amazon.com.
"This acquisition brings together two companies who are committed to providing great prices and fast delivery to parents, making one of the chores of being a parent a little easier and less expensive."
Following the acquisition, Quidsi will continue to operate independently under its current leadership team.
In addition to Diapers.com and Soap.com, Quidsi recently launched BeautyBar.com, a beauty boutique.
"Amazon shares our commitment to the customer," said Marc Lore, Co-Founder, Chief Executive Officer and Chairman of Quidsi. "We are excited to be part of a company that will help us to serve an even larger audience.”