QVC parent buying Zulily for $2.4 billion

Liberty Interactive Corporation on Monday announced that is is acquiring Seattle-based e-retailer Zulily for $18.75 a share, which makes the transaction worth about $2.4 billion.

Liberty Interactive is the parent of QVC Inc., the video and e-commerce retailer. “We are excited for Zulily to join the Liberty family,” said Greg Maffei, Liberty Interactive president and CEO, in a statement. “Darrell [Cravens], Mark [Vadon] and their team have built an impressive business around entertainment, discovery and value to the customer, which fits perfectly with the QVC philosophy.”

Cravens will remain as president and CEO of Zulily, which will keep its headquarters in Seattle. Here is the news release announcing the acquisition.