Amazon has announced that it has signed an agreement to acquire Woot.com, Reuters has reported.
Amazon, the largest online retailer in the world, says its acquisition of the Texas-based deal-a-day web-based retailer will pave the way for long-term growth.
Woot seems tremendously excited by the acquisition - a post on the company's website read: "Holy crap! Woot has signed an agreement with Amazon - yes, the Amazon - to become an independent subsidiary of the e-commerce colossus. More details forthcoming after we pick our eyeballs up off of the floor."
In a letter to his employees, Woot.com CEO Matt Rutledge insisted that the acquisition will not alter the culture of the company.
He wrote: "Amazon is interested in us because they recognise the value of our people, our brand, and our unique style of deep-tissue, toxin-releasing massage."
Amazon is yet to disclose the financial details of the takeover, but says that the deal is expected to be finalised by September this year.