Media-Saturn acquires online retailer Redcoon, following various news items on its plans of expanding its online retail strategy.
Redcoon operates in 10 European countries (including Germany, Austria, Spain and Belgium), and boasts revenues of €354m for 2010.
Media-Saturn won't disclose the amount the acquisition went for yet, while Redcoon's current CEO and founder will retain his post as the online retailer will continue operating independently from Media-Saturn.
Meanwhile the online retailer plans further expansion, such as entering new countries and extending its product range to includ books, thus entering into competition against Amazon and its likes.