Disney buys Kaboose Web sites for $18.4 mil
Online properties are targeted to parents of small kidsDisney boosted its ability to attract Internet-surfing parents of small children on Wednesday by purchasing the U.S. assets of Canadian company Kaboose.
Disney paid about $18.4 million for several Web sites, including Kaboose.com, Babyzone.com, Amazing Moms.com, Funschool.com, Zeeks.com and ParentZone.com.
Kaboose sold the remainder of its assets to Barclays Private Equity for about $97 million. The separate deals caused Kaboose stock to surge 33% Wednesday on the Toronto Stock Exchange.
Kaboose employs about 100 people in Toronto and New York, and Disney said it has made no decision as to the fate of the employees working at the sites it acquired.
When the deal closes in the coming weeks or months, those sites will become part of Disney Online.
Kaboose is the latest in a string of acquisitions by the Disney Interactive Media Group, including Kerpoof, iParenting Media and Club Penguin.