GSI to buy Boston company

GSI Commerce Inc. of King of Prussia said it is buying Retail Convergence Inc. for up to $350 million. Retail Convergence is a Boston operator of SmartBargains.com, an off-price electronic commerce marketplace, and RueLaLa.com, which sells clothing and other merchandise during private, online sales. The purchase price consists of $180 million at closing and up to $170 million more based on future earnings of the Retail Convergence businesses.    - Paul Schweizer

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