theglobe.com to acquire online department store

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Online community theglobe.com, New York, has agreed to acquire Azazz.com, an interactive department store based in Kirkland, Wash. Under the agreement, theglobe.com will issue about 307,000 shares of new common stock to shareholders of factorymall.com, parent company of Azazz!. Azazz! will remain based in Kirkland and operated by its current management team. Dean Daniels, COO of theglobe.com, will oversee the company.

Copyright February 1999, Crain Communications Inc.

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