LivingSocial Sells Off Southeast Asia Business For $18.5M

LivingSocial has sold its Southeast Asia businesses to e-commerce and flash sales company iBuy Group,for $18.5 million in cash. Ensogo and its subsidiaries include all of LivingSocial’s business operations in Thailand, Malaysia, Indonesia, and the Philippines. Per the terms of the agreement, iBuy Group acquired Ensogo Holdings and its subsidiaries for $18.5 million in cash plus assumed liabilities.

[Image courtesy: LivingSocial]

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