Connexity acquires Become.com as it prepares for an IPO

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BOB_HSIANG

Become.com, founded by Michael Yang, has agreed to be acquired by Connexity.

Cromwell Schubarth

Senior Technology Reporter- Silicon Valley Business Journal

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Connexity, the online price comparison and shopping company formerly known as Shopzilla, has agreed to acquire e-commerce aggregator Become.com.

TechCrunch reported the deal Thursday afer it got an internal memo about the deal and also said it has learned Los Angeles-based Connexity is planning to do an IPO. Financial terms of the acquisition of Sunnyvale-based Become-com were not disclosed.

Become.com, founded by Michael Yang in 2004, had raised $37.2 million in funding from investors who include SV Angel, TPG and the European Founders Fund. Its CEO is Alex Terry and Yang is on the board.

Shopzilla, before it became Connexity, was founded in 1996, raised about $75 million and was acquired in 2011 by private equity firm Symphony Technology Group for $165 million.

Cromwell Schubarth is the Senior Technology Reporter at the Silicon Valley Business Journal.