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News > Deals
J&J buys eToys unit
March 2, 2001: 10:55 a.m. ET

Folding online retailer sells BabyCenter for $10M cash to drugmaker
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NEW YORK (CNNfn) - Johnson & Johnson agreed Friday to acquire BabyCenter Inc. from troubled online retail site eToys Inc. for $10 million cash.

BabyCenter, an online parenting resource for new and expectant parents, will remain based in San Francisco. The family site expects to retain and add to current staff, Johnson & Johnson said.

BabyCenter will be part of Johnson & Johnson's Consumer Companies unit.

The BabyCenter store, which was not part of the purchase, will be temporarily closed, New Brunswick, N.J.-based Johnson & Johnson  (JNJ: Research, Estimates) said in a statement.

eToys (ETYS: Research, Estimates) announced Feb. 26 that it would be filing for federal bankruptcy protection and planned to close its Web site.

The company has indicated that it would be delisted from Nasdaq; it last traded at 9 cents.

Johnson & Johnson lost 88 cents Friday to $98.20. graphic





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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.