Strathfield Group has bought ozbuy.com as part of the retail group's anticipated expansion into the e-tail sector.
Ozbuy.com's managing director, Michael Glezerson, today confirmed industry rumours of the company's sale but has refused to confirm that Strathfield Group is the buyer.
An industry source close to the company's investors told ARN today it was the Strathfield Group. The offical announcement is expected later today.
According to Glezerson, ozbuy.com is "very close to turning a profit", which he regards a great achievement for a dot-com in the current climate. "We are no where in the vicinity of burn, burn, burn," he said.
Andrew Kelly, managing director of the Strathfield Group, was unavailable for comment.
More details to follow.