AO World acquires musicMagpie for £10 million to expand consumer tech and mobile offerings.
AO World has agreed to acquire musicMagpie, a UK-based online reseller of refurbished electronics and media, for £10 million ($12.5 million). This acquisition aims to enhance AO World's offerings in consumer tech and mobile markets, particularly through musicMagpie's trade-in service. The deal follows previous failed takeover attempts and is expected to finalize in early 2025. MusicMagpie has faced declining revenues and share prices since its 2021 market debut.
6 months ago
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