As Seen On TV, Inc. (ASTV) to Acquire eDiets.com, Inc. (DIET) for $15 Million
As Seen On TV today announced that it will acquire eDiets.com, a provider of personalized nutrition, fitness, and weight-loss programs, in a stock-for-stock transaction valued at approximately $15 million. The merger is slated to occur during the first quarter of 2013, at which time eDiets.com will become a wholly owned subsidiary of ASTV. eDiets.com will continue to be operated by its current management, which led the company’s achievement of $22 million in revenue over the past 12 months. ASTV noted synergies between the two companies, as well as their shared vision to accelerate eDiets.com’s food meal delivery business. ASTV CEO…