JD.com to acquire Ceconomy for €2.2 bn.

JD.com, a company specialising in e‑commerce and logistics, agreed to acquire Ceconomy, a German consumer electronics retailer, for €2.2 bn ($1.9bn). “This partnership with CECONOMY will build Europe’s leading next-generation consumer electronics platform. CECONOMY’s market-leading position, strong customer relationships and growth are impressive, and we are firmly committed to investing in its people and distinct culture to build on this success. We will work with the team to strengthen the capabilities, while applying our advanced technology capabilities to accelerate CECONOMY’s ongoing transformation. Our goal is to further grow CECONOMY’s platform across Europe and create long-term value for customers, employees, investors and local communities. We have full confidence in the management team of CECONOMY and look forward to working together to initiate the next phase of growth,” Sandy Xu, JD.com CEO.