Chicago-based Groupon Inc. quietly said it purchased rival web daily deal site, LivingSocial. Terms of the deal, which was buried in its third-quarter earnings report Wednesday, were not disclosed. However, Groupon said the acquisition “consideration is not considered material.” Check back for updates.
This Oct. 21, 2011 file photo shows the Groupon logo inside the online coupon company’s offices, in Chicago. Groupon Inc., said Monday, Aug. 13, 2012, that its second-quarter earnings beat Wall Street’s profit estimates, but it underwhelmed analysts with sales growth hurt by unfavorable currency movements. (AP Photo/Charles Rex Arbogast, File)
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