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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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Most stock quote data provided by BATS. Market indices 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.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.