Beyond Inc., owner of Bed Bath & Beyond, has acquired the intellectual property and brand assets of Zulily, a defunct former sister company of West Chester-based QVC, writes Rick Morgan for the Philadelphia Business Journal.

Last week’s acquisition is the latest turn in an eventful year for the online retailer which officially closed in December after being sold to private equity firm Regent in May. The terms of the deal were not disclosed.

Zulily was founded in 2009. The company offered clothing, toys, shoes, and more for sale. It went public four years later when it was valued at $2.6 billion. It was acquired by Qurate Retail Group, QVC and HSN parent company, for $2.4 billion in 2015.

However, Qurate recently decided to refocus on video streaming commerce, its core business, which led to its decision to sell Zulily.

“Zulily, in combination with our legacy brand, Overstock, will provide our vendors multiple outlets that, not only meet customers at various price points, but also offer an additional outlet to improve their inventory turns and financial performance,” said Marcus Lemonis, executive chairman of Beyond.

Read more about Zulily being acquired by Beyond Inc. in the Philadelphia Business Journal.

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