Benzinga | Aug 27, 2021 10:31AM EDT

PFSweb Divests LiveArea Business To Merkle For $250M

* PFSweb, Inc. (NASDAQ:PFSW) completed the sale of LiveArea, its global customer experience, and commerce agency business unit, to Merkle, Inc., a technology-enabled, data-driven customer experience management company, for a total gross consideration of $250 million.

* Merkle is a part of Dentsu Group's (OTC:DNTUF) Dentsu International.

* PFSweb will be accounting for the LiveArea divestiture as a discontinued operation on its upcoming Q2 earnings report.

* PFSweb used a portion of the net proceeds to pay down its senior financing facilities.

* Price Action: PFSW shares are trading higher by 1.24% at $13.53 on the last check Friday.