FRAMINGHAM (07/07/2000) - Women's network IVillage Inc. will sell assets of its e-commerce business IBaby Inc. to Babygear.com.
Financial details of the agreement, which was announced Thursday, weren't disclosed.
As part of the deal, IVillage will take an equity stake in its rival Babygear.com, a New York-based online baby superstore. It also signed a five-year sponsorship deal with Babygear.com, whereby Babygear.com will be featured on IVillage's site and in Lamaze publications.
New York-based IVillage, which produces Web sites for women, will concentrate now on its core businesses such as gardening tips, diet and fitness, and horoscopes, the company said.
IVillage took a majority stake in IBaby in 1998 for US$1.35 million, and bought the rest of the company last year for $10.8 million. Separately, IVillage will cease managing two Web sites -- IMaternity.com, a maternity store, and PlusBoutique.com, a clothing retailer. The sites will be managed by Dan Howard Industries, a Chicago-based retailer, but will still be accessed through IVillage.