British e-tailer revealed today that it has bought out the entire share capital of Anglo-Dutch group for around £140,000 (US$196,000) in shares.

Once the acquisition is completed, Urbanbite shareholders will not be allowed to sell any shares for a year. They could, however, receive further payments from the new parent company dependent on Urbanbite’s financial performance.

Urbanbite is an online food ordering service, which held a cash balance of about €100,000 (US$85,600) at Friday’s close.

To satisfy the deal, lastminute will issue 442,151 new shares at 31.5p each.

To view related research reports, please follow the links below:-

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

B2B in the food industry: the e-revolution

Online Grocery in the US 2001 – Profitability at the virtual checkout