GigaMedia to acquire e-commerce company Strawberry Cosmetics for $93.1m

GigaMedia, a Taiwanese online games and computing services provider, has agreed to acquire 70% stake in Strawberry Cosmetics for $93.1m.

Strawberry Cosmetics is an online distribution and retail platform of beauty products, which owns and operates the website StrawberryNET.com and the related mobile application.

The cosmetics e-commerce company’s sales and distribution network covers major countries across the world.

Strawberry Cosmetics offers a wide range of beauty products under more than 700 brands. It, along with its subsidiaries, generated over $200m in annual consolidated sales revenues in the recent four years.

The beauty products company generates most of its revenues from the Oceania, US and Europe markets, with potential to grow in the Asian market.

With this deal, Strawberry Cosmetics will obtain access to GigaMedia’s existing marketing resources which will help the former to further expand in the Asian market.

Meanwhile, the deal will help GigaMedia to expand its business portfolio in the internet and technology sector, and to enter into the fast growing beauty and cosmetics e-commerce market.

Subject to GigaMedia’s shareholders approval, the acquisition is expected to be completed in the third quarter of 2015.