Magazine Luiza to acquire Kabum for $528m.

Magazine Luiza, a Brazilian retail company, agreed to acquire Kabum Comercio Eletronico, a technology and e-commerce company, for $528m. With an assortment that is highly complementary to that of Magalu, the acquisition of KaBuM! represents a significant step towards Magalu’s strategic objective of expanding into new categories, while simultaneously increasing the company’s customer base and purchase frequency. Additionally, together with the recent acquisitions of Jovem Nerd and CanalTech, KaBuM! and Magalu will be able to offer a complete shopping, content and entertainment experience for technology and gaming enthusiasts.