FINANCE

The Home Depot acquires Blinds.com

BY Dan Berthiaume

Atlanta – The Home Depot has acquired Houston-based window coverings retailer Blinds.com. As The Home Depot continues to implement its interconnected retail strategy, the company will work with Blinds.com to expand its technology into Homedepot.com and the company’s stores with the goal of improving the entire end-to-end buying process for window coverings.

The Blinds.com management team and staff will remain intact at its headquarters in Houston. The acquisition closed Jan. 23 and terms of the deal were not disclosed.

"We’re joining forces with The Home Depot because there is a huge opportunity to utilize each other’s strengths, take additional share in this category and move even faster toward our vision of making the design, purchase and installation of quality window coverings as easy and affordable as possible," said Jay Steinfeld, founder and CEO of Blinds.com. "We will continue to build the Blinds.com brand and culture in our own unique way, and we believe The Home Depot is the best partner to help us do this over the long term."

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REAL ESTATE

David Yurman opens in Westfield Topanga

BY Staff Writer

New York — David Yurman, a fine jewelry and timepiece designer, has opened a store at Westfield Topanga in Canoga Park, Calif.

Conceptualized by architectural firm of Gabellini Sheppard Associates, the flowing 1,403-sq.-ft. store features classically modern architecture. Every element of the interior reflects the brand’s luxurious yet relaxed aesthetic.

The boutique will carry David Yurman’s classic collections, including gold and sterling silver designs for women, men, and children; timepieces; special one-of-a-kind designs; limited-edition fine jewelry; and engagement rings and wedding bands.

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FINANCE

Global Payments acquires PayPros

BY Dan Berthiaume

Atlanta — Global Payments Inc. will acquire Payment Processing, Inc. (PayPros). PayPros, based in California, is a provider of fully-integrated payment solutions for 58,000 small-to-medium sized retailers in the U.S.

Under the terms of the agreement and pending regulatory approvals and customary closing conditions, Global Payments will pay $420 million in cash to acquire PayPros, inclusive of tax assets. The transaction is expected to close by the end of Global Payments’ 2014 fiscal year. PayPros’ calendar 2013 annual revenues are anticipated to be approximately $100 million. Global Payments will provide further details when the transaction closes.

"Our acquisition of PayPros will expand our direct distribution, add new vertical markets, accelerate growth in our largest geography and further enhance our existing integrated solutions business with the addition of PayPros’ talented team," said Jeffrey S. Sloan, president and CEO of Global Payments.

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